Metlifecare, one of New Zealand’s leading retirement village and aged care providers, has been advised by the Australian Securities Exchange that it has been admitted to the Official List of the ASX.
Metlifecare shares will commence trading on the ASX, under the code MEQ at 1.00pm (A.E.S.T.) on 21 October 2013. The ticker code for the NZX will remain as MET. Metlifecare will be a member of the healthcare index.
Chairman of Metlifecare, Mr Peter Brown, said:“This secondary listing will provide Metlifecare with additional access to investors and the Australian equity markets. While we already have a number of Australian institutional investors on our share register, there has been increased interest from other investors, some of whom are restricted in their ability to invest into non-ASX listed companies. This will provide them with an opportunity to participate in Metlifecare’s growth and value proposition.
"We have no plans to expand operationally into Australia and are firmly focused on the significant opportunity in the New Zealand market, particularly in our targeted geographical area in the upper North Island and achieving our growth targets.”
Metlifecare is not undertaking any capital raising and has no current plans to do so.
Computershare will continue as Metlifecare’s share registrar in New Zealand and now Australia. Shareholders will be able to trade their shares on either the NZX or the ASX, dependent on which share register their shares are registered with. Currently all MET shareholders are registered in New Zealand. They will have the option of transferring their shares onto the Australian register should they prefer.