NZ retailer Briscoe gets ASX debut date

BriscoesNew Zealand retailer Briscoe Group will dual list on the Australian Securities Exchange, as a foreign exempt entity, on Wednesday (midday in Australia).

The company, which operates NZ businesses including Briscoes homeware stores and Rebel Sport, says its securities will be officially quoted on the ASX from 1100 AEST on Thursday.

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,” said managing director Rod Duke in a statement to the NZX.

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. Briscoe is controlled by 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.

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

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