Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 


Bancorp Lists First NZ Company on Frankfurt Stock Exchange

Bancorp Lists the First NZ Company on Germany’s Frankfurt Stock Exchange

Auckland, New Zealand - 6 May 2014 – Bancorp Group announced today that its investment and private banking group, (Bancorp New Zealand Wealth Management Limited (or the Company) is the first New Zealand Company to list on Germany’s prestigious Frankfurt Stock Exchange (or Frankfurter Wertpapierbörse FWB®).

Craig Brownie the Managing Director of Bancorp says the Company had a market capitalisation of EUR42 million upon listing and its operations include a diverse yet profitable range of activities in growth sectors.

“The Company’s operations are diverse covering a significant involvement in global aviation insurance and aircraft financing through to owning the Auckland Airbus service and private banking operations for international investors seeking New Zealand investments. In all these areas we have identified significant opportunities and growth potential especially from within the strong German economy and the ready access to capital that market provides.”

Brownie adds that the German listing was chosen due to the existing international operations of the Company and the ability to quickly scale its future growth plans.

“We spent a lot of time investigating the UK and European stock markets and ultimately chose a German Listing given the FWB® has a market cap of US$1.3 Trillion – the NZX is around US$72b by comparison. The German market provides Bancorp’s listed company with greater access to capital and additional liquidity for shareholders. There are a range of other financial benefits that being located in a strong European economy brings not least market efficiencies and cost savings that other countries and locations simply cannot match.”

“Bancorp’s experience in listing on the Frankfurt Stock Exchange also means we are well positioned to assist any other New Zealand companies that are interested in accessing the UK or German markets.”

“It’s a first for us but also for a New Zealand entity so we are immensely proud of the opportunities this will open for the Company as well as the Bancorp Group generally”, says Brownie.

Brownie notes that not enough New Zealand companies with worldwide operations take advantage of international capital markets.

“New Zealand capital markets are ideal for certain companies but some entities such Bancorp’s Company suit international bourses that provide a better range of opportunities geared toward specific investment portfolios. In our view shareholders must look at the pricing of capital, liquidity, ease of access to more capital as well as regulatory and other requirements.”

ENDS


© Scoop Media

 
 
 
 
 
Business Headlines | Sci-Tech Headlines

 

Cosmetics & Pollution: Proposal To Ban Microbeads

Cosmetic products containing microbeads will be banned under a proposal announced by the Minister for the Environment today. Marine scientists have been advocating for a ban on the microplastics, which have been found to quickly enter waterways and harm marine life. More>>

ALSO:

NIWA: 2016 New Zealand’s Warmest Year On Record

Annual temperatures were above average (0.51°C to 1.20°C above the annual average) throughout the country, with very few locations observing near average temperatures (within 0.5°C of the annual average) or lower. The year 2016 was the warmest on record for New Zealand, based on NIWA’s seven-station series which begins in 1909. More>>

ALSO:

Farewell 2016: NZ Economy Flies Through 2016's Political Curveballs

Dec. 23 (BusinessDesk) - New Zealand's economy batted away some curly political curveballs of 2016 to end the year on a high note, with its twin planks of a booming construction sector and rampant tourism soon to be joined by a resurgent dairy industry. More>>

ALSO:


NZ Economy: More Growth Than Expected In 3rd Qtr

Dec. 22 (BusinessDesk) - New Zealand's economy grew at a faster pace than expected in the September quarter as a booming construction sector continued to underpin activity, spilling over into related building services, and was bolstered by tourism and transport ... More>>

  • NZ Govt - Solid growth for NZ despite fragile world economy
  • NZ Council of Trade Unions - Government needs to ensure economy raises living standards
  • KiwiRail Goes Deisel: Cans electric trains on partially electrified North Island trunkline

    Dec. 21 (BusinessDesk) – KiwiRail, the state-owned rail and freight operator, said a small fleet of electric trains on New Zealand’s North Island would be phased out over the next two years and replaced with diesel locomotives. More>>

  • KiwiRail - KiwiRail announces fleet decision on North Island line
  • Greens - Ditching electric trains massive step backwards
  • Labour - Bill English turns ‘Think Big’ into ‘Think Backwards’
  • First Union - Train drivers condemn KiwiRail’s return to “dirty diesel”
  • NZ First - KiwiRail Going Backwards for Xmas
  • NIWA: The Year's Top Science Findings

    Since 1972 NIWA has operated a Clean Air Monitoring Station at Baring Head, near Wellington... In June, Baring Head’s carbon dioxide readings officially passed 400 parts per million (ppm), a level last reached more than three million years ago. More>>

    ALSO:

    Get More From Scoop

     
     
     
     
     
     
     
     
    Business
    Search Scoop  
     
     
    Powered by Vodafone
    NZ independent news