7 May 2014

Bancorp lists on Frankfurt Exchange

7:07 am on 7 May 2014

A merchant bank in Auckland is the first New Zealand company to list on the Frankfurt Stock Exchange.

Bancorp Group has listed on the Frankfurt exchange's second board with a market capitalisation of just over $67 million.

The bank has about 80 shareholders and has not raised any new capital at this stage.

Managing director Craig Brownie said the group has clients throughout Asia and it sees significant opportunities from having a German listing.

He said his company had identified significant opportunities and growth potential, especially from within the strong German economy.

Mr Brownie said the Frankfurt market also offered ready access to capital, although his company, which has about 80 shareholders, hadn't raised any new capital yet.

He said it was a secondary board which provided more flexibility in what was required to list.

The prospectus which accompanied the Bancorp company's listing was published in German.