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

 

Finance: Major Campaign To End "Gross Overtaxation Of Savings"

The campaign – which includes a special web site through which New Zealanders can e-mail their own and other MPs and party leaders – is backed by Age Concern, Consumer NZ, the Financial Services Council and the Taxpayers’ Union. More>>

ALSO:

Scoop Business: Leighton-Led WGP To Build, Manage Transmission Gully

The Wellington Gateway Partnership, led by a unit of ASX-listed Leighton Holdings, has won the $1 billion contract to build the Transmission Gully road north of Wellington. More>>

ALSO:

Gareth Morgan: The Government’s Fresh Water Policy – Revisited

Fresh water quality is the latest area to be in the sights of Gareth Morgan and his research organisation The Morgan Foundation... They found that the fresh water policy was a bit murkier than the Environment Minister let on. More>>

ALSO:

Interest Rates: RBNZ Hikes OCR To 3.5%, ‘Period Of Assessment’ Now Needed

Reserve Bank governor Graeme Wheeler raised the official cash rate as expected, while signalling a pause in rate hikes to assess the impact of moves so far this year. The kiwi dollar sank after Wheeler said its strength was “unjustified” and that the currency could have “a significant fall.” More>>

ALSO:

Fonterra: Canpac Site 'Resize' To Focus More On Paediatrics

Fonterra is looking at realigning its packing operations at Canpac, in the Waikato, to focus more on paediatric nutritionals... The proposed changes could mean around 110 roles may not be required at the site which currently employs 330. More>>

ALSO:

Scoop Business: Postie Plus Brand Gets 2nd Chance With Well-Funded Pepkor

The Postie Plus brand is getting a new lease of life after South Africa’s Pepkor bought the failed retailer’s assets out of administration and said it will use its purchasing power to reduce costs of stock and fatten margins. More>>

ALSO:

Get More From Scoop

 
 
Computer Power Plus

Standards New Zealand

Standards New Zealand
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news