Bancorp Group announced that its investment and private banking group, is the first New Zealand Company to list on Germany’s prestigious Frankfurt Stock Exchange (Frankfurter Wertpapierbörse FWB).
Craig Brownie managing director of Bancorp says the Company had a market capitalisation of EUR42 million upon listing and its operations include a diverse yet profitable range of activities in growth sectors.
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Brownie said: "The Company’s operations are diverse covering a significant involvement in global aviation insurance and aircraft financing through to owning the Auckland Airbus service and private banking operations for international investors seeking New Zealand investments. In all these areas we have identified significant opportunities and growth potential especially from within the strong German economy and the ready access to capital that market provides."
Brownie adds that the German listing was chosen due to the existing international operations of the Company and the ability to quickly scale its future growth plans.
Brownie added: "We spent a lot of time investigating the UK and European stock markets and ultimately chose a German Listing given the FWB has a market cap of US$1.3 Trillion – the NZX is around US$72b by comparison. The German market provides Bancorp’s listed company with greater access to capital and additional liquidity for shareholders. There are a range of other financial benefits that being located in a strong European economy brings not least market efficiencies and cost savings that other countries and locations simply cannot match.
"Bancorp’s experience in listing on the Frankfurt Stock Exchange also means we are well positioned to assist any other New Zealand companies that are interested in accessing the UK or German markets.
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By GlobalData"It’s a first for us but also for a New Zealand entity so we are immensely proud of the opportunities this will open for the Company as well as the Bancorp Group generally."
Brownie notes that not enough New Zealand companies with worldwide operations take advantage of international capital markets.
Brownie added: "New Zealand capital markets are ideal for certain companies but some entities such Bancorp’s Company suit international bourses that provide a better range of opportunities geared toward specific investment portfolios. In our view shareholders must look at the pricing of capital, liquidity, ease of access to more capital as well as regulatory and other requirements."
