Wynyard targets Aussie revenue with dual listing on ASX

Wynyard Group has approved the company pursuing a dual listing on the Australian Stock Exchange (ASX) and it will now commence the process after first listing on the New Zealand Stock Exchange (NZX) in July 2013.

"With a significant part of our revenue and growth coming from the Asia Pacific Region and a growing number of Australian investors, seeking an ASX listing is a logical strategic move for the company," says Craig Richardson, CEO, Wynyard Group.

“Listing on ASX will enable more Australian and foreign investors to hold Wynyard stock, participate in the company's growth and increase the attractiveness of Wynyard shares.

"We also expect it will increase our profile with Australian customers and the board believes that dual listing will benefit all shareholders."

Richardson says it is expected that the process will complete during the third quarter of the 2015 calendar year.

Also, Wynyard Group intends to maintain its New Zealand incorporation and its principal listing on the NZX Main Board.

Wynyard Group has appointed UBS New Zealand to advise on the proposed ASX listing.

Subject to regulatory approval, Wynyard Group expects to make further announcements with respect to the proposed ASX listing in the coming months.