NZ: New Zealand Wine Co. ponders trading upgrade - report

By | 8 June 2006

The New Zealand Wine Co. is considering upping its profile on the stock market, according to local reports.

The company, which currently trades on the New Zealand alternative market (NZAX) has been approached by investment bank Goldman Sachs J.B. Were to take part in an NZX - the main trading board - markets presentation on 15 June in Auckland.

As part of the presentation, the company will release key financials, including a net profit forecast for the year to 30 June, as well as a net projection for the following year.

Speaking to local paper The Press, New Zealand Wine Co.'s chairman, Mark Peters, said: "We're just working at the moment on a presentation which will go to the market … one of the things we're going to put in it is a forecast which we haven't done before."

The paper also quotes chief executive Rob White saying: "We're really just weighing up the cost benefits between being on the (NZAX) and the NZX and it appears that given the requirements around NZAX listings, the requirements to move up to the full board is not that much more and yet it opens you to a lot more exposure.

"The step we're taking now to release a formal forecast will be a first that highlights an expectation that a full board listing would probably have."

The company initially listed on the NZAX in 2003.

Sectors: Wine

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