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HomeNEWSBriscoe Group Limited to join ASX

Briscoe Group Limited to join ASX

Briscoe Group has announced its admission to the Australian Stock Exchange (ASX) from Wednesday, official at midday Sydney time.

Briscoe Group said it will be admitted to the official list of the ASX, as a foreign exempt entity, from midday in Australia Wednesday and official quotation of the group’s securities will begin at 11 am Sydney time Thursday (1pm New Zealand time).

In May, the company said it would apply to list on the ASX as a foreign exempt entity but wasn’t planning on raising new capital. The May release said that the company would be seeking listings that week.

Board Chair, Dame Rosanne Meo said, “We believe that the greater visibility from a dual-listing will contribute to increased investor interest and a broader shareholder base which will increase our ability to take advantage of fresh opportunities that we identify.”

Briscoe is controlled by managing director Rod Duke, who owns more than three-quarters of the country’s biggest retailer, and 91 percent of the stock is held by 32 of Briscoe’s 3,393 shareholders.

The Briscoe Group Limited official press release stated that the entity has been allocated the ASX code of BGP.

“We believe that the greater visibility from a dual-listing will contribute to increased investor interest and a broader shareholder base which will increase our ability to take advantage of fresh opportunities that we identify,” Rod Duke said in a release to the New Zealand stock exchange Monday.

Briscoe shares rose 0.8 percent to $4.01 on the NZX and have gained 25 percent over the past 12 months.

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