Punakaiki Sets A Record For Investor Participation On Catalist Marketplace

The Catalist stock exchange supporting small and medium-sized businesses achieved record investor participation during an event on its marketplace in the March shares offer for venture capital New Zealand technology investment business Punakaiki Fund.

Catalist Chief Executive Colin Magee said, “We’re fulfilling our goal to provide everyday retail investors with access to high-growth investments that aren’t usually publicly accessible, while facilitating businesses to successfully connect with a wider range of investors.

“The interest in this offer was a record for the Catalist marketplace and our robust platform easily handled the number of transactions involved from Kiwis investing in the growth economy,” Magee said.

More than 700 investors purchased shares in the Punakaiki Funds tradeable discounted rights and ordinary shares offer to retail and wholesale investors.

“When the number of shareholders trading their rights earlier in March are included, there were 828 investors involved in this fund raising,” Magee said.

• 217,680 new shares in Punakaiki Funds were issued on 31 March (7.5% of its total shares now on issue).
• The offer raised over $4.15 million.
• A high proportion (216,306 shares) of the new investment was from existing shareholders or new investors taking up the tradeable discounted rights offer, compared with the number of new shares (1,374 shares) in the ordinary share offer.

“Catalist enabled a wide mix of Kiwis to invest in Punakaiki Funds and we’re pleased to connect them to this type of investment to diversify their portfolio,” Magee said.

The total funds traded on the Catalist platform for New Zealand small and medium businesses since it was established in 2020 is $40 million.

Underway now on the Catalist public market is the Matū Iramoe ordinary shares offer, which closes on 14 April, 2023.

On the Catalist private market, Fortland Capital has a limited partnership offer for its Kāmahi Land Fund. The auction closes for wholesale investors on 30 May, 2023.

Also, Hale Animal Health has an ordinary shares offer for wholesale investors open until 30 April, 2023. Ends

About Catalist:

Catalist Markets Ltd. is New Zealand’s only licensed stock exchange designed for small and medium-sized businesses. Investors can trade shares, debt securities and other financial products, while businesses can raise new capital. Catalist, which is regulated by the Financial Markets Authority, offers a Private Market for wholesale investors and a Public Market. Rather than a continuous trading stock exchange, Catalist uses regular auctions to better-suit smaller business listings.

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