Has Trade Me founder invested in the next Xero…?

Sam Morgan, who made his fortune when Trade Me was sold to Fairfax Media, has built a substantial shareholding in security software developer Wynyard Group after buying on-market yesterday.

Morgan’s Jasmine Investment Holdings No. 4 Ltd bought 250,000 shares on market yesterday, taking his total stake in Wynyard to about 5.84 million shares, or 5.04 percent of the firm, according to a notice to the NZX.

While no price was put on the deal, Reuters data shows 250,000 shares were bought at $1.90 yesterday, for $475,000.

The shares fell 1 percent to $1.90 today, and are up 66 percent this year, having pared bigger gains during a global sell-off of software and biotech stocks.

Morgan was already one of the bigger shareholders in Wynyard, having participated in last year’s $65 million initial public offer, and was recorded as holding 2.96 percent as at Feb. 28, according to the company’s 2013 annual report.

Wynyard is chasing growth by seeking bigger deals with greater opportunity for expansion, and is also investigating the “potential for targeted acquisitions to accelerate market penetration and capture market share,” it said at its annual general meeting.

The intelligence software developer raised $35 million in March in an institutional placement and share purchase plan to fund its growth aspirations.

 

Follow Us
on Google+
Sponsored

Review: Sony Xperia Z2

NetGuide Smartphones are all about compromise these days. Fitting a hi-res screen, camera and huge battery into increasingly lighter handsets isn’t easy, and usually, something has to give.   Read More →

Review: LifeTrak C410 Fitness tracker

NetGuide The C410 is a fitness tracker first and a watch second. Because of this it not only tells the time, but also tracks almost everything a fitness nut would need to know.
Amongst the many stats tracked are Steps. Calories are measured too as are distances covered. There’s a sleep tracking function, plus heart rate monitoring.   Read More →

Android App Review: Writing Prompts

NetGuide Writing Prompts is one of those obviously-named apps that gives you exactly what the name suggests and nothing more. If you want some help getting started with your creative writing, then the Writing Prompts app might be able to help.   Read More →