Forum Archive Index - March 2002

["Ben Dutton" <bendutton@sharechat.co.nz>]

Nick, I noticed that you hadn't received an answer about this, so here
goes...

You're getting confused between the Unlisted Securities Market (the USM) and
the New Capital Market (the NCM).  The USM isn't part of the New Zealand
Stock Exchange as such - but companies on it are traded through the NZSE
trading system.  The NCM by contrast, is part of the NZSE, and shares for
that are quoted on the FASTER trading system.  The NCM lists companies at 50
cents a share, companies can list on the USM for however much they want.
All you need to do to list on the USM is to get a sharebroker to sponsor you
(the cost is pretty minimal) - it's easy as - and there are no NZSE rules
and regulations to protect (or not protect) investors.

If you're confused don't worry, you're not the only one.  In the following
article Brain Gaynor talks about the NZSE's spin doctor who got it wrong
himself in a press release:

http://www.nzherald.co.nz/storydisplay.cfm?thesection=money&thesubsection=&s
toryID=940252

(It's at the end of the article).

Best Regards

Ben Dutton


----- Original Message -----
From: "Nick Kearney" <nickk@quicksilver.net.nz>
To: <sharechat@sharechat.co.nz>
Sent: Sunday, March 10, 2002 3:31 PM
Subject: Re: [sharechat] Intaz


> Great...but I thought companies that listed on the secondary board
> subscribed their shares at .50c for the listing.
>
> Is that right?  If so, what is this $1 listing all about?
>
> Nk
> ----- Original Message -----
> From: "Kevin Young" <youngk@zfree.co.nz>
> To: <sharechat@sharechat.co.nz>
> Sent: Sunday, March 10, 2002 11:30 AM
> Subject: [sharechat] Intaz
>
>
> > l think Intaz should do well. I have read a report which compares Intaz
> with Software
> > of Excellence and Keylogix. Intaz compares well with both of them. Intaz
> appears
> > to be managed and funded by a group of astute people well known in NZ
> business circles.
> > Companies such as IBM and Oracle have described Intaz's product as "best
> of breed".
> >
> >
> > My only concern is that Intaz will be listed at the end of March on the
> NZSE New
> > Market Board rather than the main board. However this is only a small
> concern.
> >
> > The company is trying to raise $10m. $5m from professional investors and
> $5m from
> > public float. The professional investors will pay 95c per share plus one
> free option
> > for every 3 shares subscribed exercisable at $1 after 12 months. The
> public offer
> > is at $1 only.
> >
> > This is what you should do. Apply for $150,000 shares as a professional
> investor
> > at a cost of $142,500. You will be alloted 150,000 shares and 50,000
> options. When
> > Intaz list, dispose of your 150,000 shares (hopefully at $1 or better)
and
> keep the
> > 50,000 options. If the company does well and the share price goes to say
> $2 after
> > 12 months, exercise the option pay the $1 and pocket the other $1. If
the
> share price
> > is trading at 75c don't excercise your option.
> >
> >
> > __________________________________________________
> > Advertise with ZFREE - to find out more click below
> > http://www.zfree.co.nz/about-us/advert.html
> >
>
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>
>
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