Punakaiki Fund Moves Share Register To Catalist, Opens Share Trading To Wholesale Investors

Punakaiki Fund has transferred management of its share registry to Catalist, whose exchange will also facilitate share trading for the company.

The announcement comes ahead of the fund’s first share trading auction on Catalist, which is scheduled to run from March 21.

Lance Wiggs, director and manager of the Punakaiki Fund, says the new registry will allow Punakaiki Fund’s investors to self-manage their shareholding, as well as remove administrative burden from the manager, including AML checks.

“While we are too large to take advantage of the retail-focussed Catalist Public Market, we are also very happy to extend our share trading beyond our shareholders to all wholesale investors,” he says.

Punakaiki Fund Limited currently has an $83 million investment portfolio and reports an investor net asset value per share of $75 million.

The Catalist Public Market is only permitted to list businesses which have a value of $60 million or less, at the time of their listing.

Catalist CEO, Colin Magee, says Catalist is happy to be able to assist Punakaiki Fund at this stage in its growth.

“We recognise the value that Punakaiki Fund will bring to our platform.

“With more than 1,000 venture capital investors, and a successful track record of both retail and wholesale capital raising, Punakaiki Fund extends our venture capital fund offering to more investors.

“This is an important step in solidifying Catalist as the platform for SME investments – whether that’s investment in individual companies, or venture capital funds,” he says.

After a single working week, over 400 of Punakaiki Fund’s investors have completed their AML and other due diligence, enabling them to manage and trade their shareholdings.

Punakaiki Fund’s first share trading auction will go live on their Catalist page next Monday, where documentation such as their latest quarterly report and recent retail offers can be found.

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