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

 

Final Frontier: Rocket Lab And NASA Sign Commercial Space Launch Agreement

Rocket Lab has signed a Commercial Space Launch Act Agreement with the National Aeronautics and Space Administration (NASA). The agreement enables Rocket Lab to use NASA resources - including personnel, facilities and equipment - for launch and reentry efforts. More>>

ALSO:

Scoop Business: Wheeler Downplays Scope For ‘Large’ Rates Fall

Reserve Bank governor Graeme Wheeler says some market commentators are predicting further declines in interest rates that would only make sense for an economy in recession, although some easing is likely to be needed to maintain New Zealand’s economic growth. More>>

ALSO:

Ruataniwha Dam: Consent Conditions Could Mean Reduced Intensity

Legal advice sought by the Hawke’s Bay Regional Council on the Ruataniwha Dam consent conditions has confirmed that farmers who sign up to take water from the dam could be required to reduce the intensity of their farming operation to meet the catchment’s strict nitrogen limit. More>>

Health And Safety: Bill Now Sees Rules Relaxed For Small Businesses

Health and safety law reform sparked by the Pike River coalmine disaster has been reported back from the industrial relations select committee with weakened requirements on small businesses to appoint health and safety representatives and committees. More>>

ALSO:

Bearing Fruit: Annual Fruit Exports Hit $2 Billion For First Time

The value of fruit exported rose 20 percent (up $330 million) for the June 2015 year when compared with the year ended June 2014. Both higher prices and a greater quantity of exports (up 9.0 percent) contributed to the overall rise. More>>

ALSO:

Get More From Scoop

 
 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news