ikeGPS Dual Lists on Australian Securities Exchange
“Our primary listing remains on NZX, and we remain committed to our New Zealand investor base,” says ikeGPS CEO and Managing Director Glenn Milnes. “However, this ASX dual listing via the foreign exempt rules is an extremely cost efficient and effective mechanism to access a broad pool of potential institutional and retail investors in Australia. ikeGPS has already bought several new Australian institutional investors onto its register in 2016, and this dual listing potentially enables more Australian parties to invest.
“As context, the ASX ranks among the top five global exchanges with a total market capitalization of around $1.5 trillion and almost 2,200 listed companies. Another factor for our business is that the market opportunity for ikeGPS products is growing in Australia, where we expect to see increasing sales for IKE 4, Spike in the signage industry and the Smart Measure Pro in the construction industry via Stanley Black & Decker in the medium term.”
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