Serko plans NZ stock exchange listingMay 14 - 9am
Auckland software company Serko plans to list on the New Zealand and Australian Stock Exchanges before September this year.
Owned by founders Darrin Grafton and Bob Shaw and a group of private equity partners, Serko currently transacts over AUD$5 billion in travel spend across the Asia Pacific region each year.
Now the company is now looking at the next phase in its growth plans and intends to dual list on the New Zealand and Australian Stock Exchanges.
Grafton and Shaw both believe they have the opportunity to develop “something really special” right here in New Zealand according to a statement released to the press.
Through Serko’s technology and patents they believe the company has the potential to be worth over NZ$1 billion within two years.
This will match the performance of high profile Kiwi accounting software company Xero and also put Serko in the league of companies like health software exporter Orion Health according to the owners.
All of Serko’s global competitors are publicly traded and each is valued well in excess of NZ$1 billion.
Serko says it has an “abundance of new developments on the boil including planned acquisitions, international growth and product enhancements.”
The news follows reports that Wynyard Group is considering raising capital by an Initial Public Offering (IPO) and a listing on the NZX Main Board.