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- Proposed initial public offering of Trade Me
Proposed initial public offering of Trade Me
We have some big news about Trade Me. Fairfax Media Limited, our parent company, has announced that it intends to sell between 30% and 35% of Trade Me via an initial public offering.
There are lots of rules about “pre-prospectus publicity” set out in the Securities Act that mean we can’t say too much at this stage, but what we can tell you is that:
- Fairfax is considering making an offer of securities to the public in relation to Trade Me;
- No money is currently being sought; and
- The timing of the IPO has not yet been finalised.
This will be subject to financial market conditions, but if it goes ahead this would see Trade Me become a stand-alone, publicly listed company on the New Zealand Exchange (NZX), and consideration will also be given to an ASX listing.
We also wanted to let you know that it’s business as usual from our perspective. The way Trade Me works, and our focus on providing a safe and trusted marketplace for Kiwis to buy and sell will remain the same.
We’ll be in touch again when we can say more without getting into trouble.