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

 

Fossils: Ancient Penguins Lived Alongside Dinosaurs?

Penguins are much older than previously thought and their evolution probably dates back to the days of the dinosaurs, according to research on the fossilised leg bone and toes of a giant ancient penguin found in rocks near Waipara, North Canterbury. More>>

No Voda/Sky: Commission Declines Clearance For Merger

The Commerce Commission has declined to grant clearance for the proposed merger of Sky Network Television and Vodafone New Zealand. More>>

ALSO:

EARLIER:

Power: IEA Report On New Zealand's Energy System

Outside of its largely low-carbon power sector, managing the economy’s energy intensity and greenhouse gas emissions while still remaining competitive and growing remains a challenge. More>>

ALSO:

NASA: Seven Earth-Size Planets Around A Single Star

NASA's Spitzer Space Telescope has revealed the first known system of seven Earth-size planets around a single star. Three of these planets are firmly located in the habitable zone, the area around the parent star where a rocky planet is most likely to have liquid water. More>>

ALSO:

Auckland Transport Case: Men Guilty Of Corruption And Bribery Will Spend Time In Jail

Two men who were found guilty of corruption and bribery in a Serious Fraud Office (SFO) trial have been sentenced in the Auckland High Court today... The pair are guilty of corruption and bribery offences relating to more than $1 million of bribes which took place between 2005 and 2013 at Rodney District Council and Auckland Transport. More>>

ALSO:

Hager Raid: Westpac Wrong To Release Bank Records To Police

The Privacy Commissioner has censured Westpac Banking Corp for releasing without a court order more than 10 months of bank records belonging to the political activist and journalist Nicky Hager during a police investigation into leaked information published in Hager's 2014 pre-election book, 'Dirty Politics'. More>>

ALSO:

EARLIER:

Get More From Scoop

 
 
 
 
 
 
 
 
Business
Search Scoop  
 
 
Powered by Vodafone
NZ independent news