Ecoya Lists, “Expansion plans underway”

Ecoya Lists
“Expansion plans underway”: Geoff Ross

The first listing in nearly six months hit the NZSX today with body & bath and home fragrance company Ecoya.

Commenting on the share’s debut, executive chairman Geoff Ross says the listing signals the start of Ecoya’s growth plans.

“It’s up to us now we have the growth capital secured. The funding enables Ecoya to be built into a far greater revenue generating asset. We are delighted to have a group of supportive shareholders to share the journey with us,” Mr Ross says.

“We look forward to moving into our target markets to launch our extended product range. We take seriously our responsibility as a listed company on the NZSX and will be reporting to our shareholders as we grow our business.”

Mr Ross also notes that global body care, skincare, bath and shower and fragrance provider L’Occitane announced on Friday it had completed its IPO book build oversubscribed. It plans to list on the Hong Kong Stock Exchange on Friday (May 7).

“L’Occitane coming to the market provides further evidence that the body & bath and home fragrance sectors are of strong interest to international investors given the sector’s growth prospects. It confirms our strategy for Ecoya and we continue to be excited by the sector dynamics,” Mr Ross says.

Ecoya shares bought by investors at the IPO have two separately-traded warrants attached. Mr Ross says the value of the warrants should be added to the share price when comparing to the issue price of $1. At the time of writing (3.30pm, May 3), neither of the warrants had yet traded.

Ecoya’s shares have been trading in the range between $0.95 and $1.00 per share.

ENDS

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