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

 

Medical Kiwi To List On NZSX

Medical Kiwi Ltd today announced its intention to list on the NZX Main Board (NZSX). The South Island-based medicinal cannabis company is working towards a listing date late this month, subject to final NZX approval.

Medical Kiwi Chairman Aldo Miccio says NZSX listing will raise public awareness of the company and its strong strategy for helping develop New Zealand’s medicinal cannabis industry, while providing investors with an efficient market in Medical Kiwi shares.

“We’re not raising new capital as part of our listing,” Mr Miccio says. “We are seeking to publicly confirm the integrity and credibility of our strategy, and to let the market properly assign value to a business that has substantial growth potential. New capital will be raised down the track, as and when needed to deliver on our strategy.”

In the interim, holders of Medical Kiwi’s Class A ordinary shares will meet on 17 March to vote on proposed changes to the company’s constitution, and on a resolution that creates one common class of voting share in place of current Class A and Class B shares. The company has 39.44 million shares on issue, including the 2 million Class B shares taken up by investors through crowd funding during 2020.

“Medical Kiwi has been quietly working for two years to establish a distinctly New Zealand business with a focus on both export and domestic markets for medicinal cannabis, and for CBD products in particular,” Mr Miccio says. “We are well positioned to deliver on the promise of these products and to benefit from market growth potential. Now is the right time for us to join the NZSX.”

The company will issue a Listing Profile document prior to the listing date and its NZX code will be MED. No further information will be available until the profile is made available to the market.

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Frog Recruitment: Kiwi Workers Reluctant To Make Business Trips Across The Ditch Despite Trans-Tasman Bubble Opening

When the trans-Tasman travel bubble opens today, many Kiwi companies won't be rushing to buy an air ticket, reluctant to cross the ditch to do business. The latest survey conducted by leading recruitment agency, Frog Recruitment of nearly 1,000 New Zealand ... More>>

Tourism: Employers Welcome Back Working Holidaymakers

Tourism businesses gearing up for the return of Australian visitors from next week will be relieved to learn that they will also have access to an offshore pool of much-needed job candidates, Tourism Industry Aotearoa says. Tourism employers around ... More>>

Commerce Commission: Latest Broadband Report Confirms Improved Performance Of Premium Fibre Plans

The latest report from the Commerce Commission’s Measuring Broadband New Zealand programme shows that the performance of Fibre Max plans has improved substantially. This follows a collaboration between the Commission, its independent testing partner, ... More>>

Air New Zealand: Capital Raise Deferred

Air New Zealand has decided to defer its planned capital raise to later in 2021 allowing more time to assess the impacts of recent developments on the airline’s path to recovery. 'We’ve seen some clearing of COVID-19 clouds recently, with ... More>>


Stats NZ: New Report Shows Impact Of Demands On Land In New Zealand

A new environmental report released today by the Ministry for the Environment and Stats NZ, presents new data on New Zealand’s land cover, soil quality, and land fragmentation. The land cover data in the report, Our land 2021 , provides the most ... More>>

ALSO:

Stats NZ: March Card Spending Rebounds Despite COVID

There was a lift in retail card spending in March following a fall in the lockdown-disrupted February month, Stats NZ said today. Seasonally adjusted retail card spending rose by $53 million (0.9 percent), compared with February 2021. Visit our website to read ... More>>

PwC: Outcome Of Review Into Air New Zealand Gas Turbines Business

Air New Zealand has received the report into its Gas Turbines business from independent external advisers PwC. Air New Zealand Chairman Dame Therese Walsh says the report identified a range of effective controls in the Gas Turbines revenue contracting ... More>>