Feeds

Trade Me set for end of year float

$NZ300m under Fairfax’s Xmas tree?

The Power of One Infographic

Fairfax Media’s partial float of dotcom asset Trade Me may be on the cards before the end of the year according to industry reports out of New Zealand.

Fairfax confirmed in August that it intended to float up to 35% of the online auction site in an Initial Public Offering (IPO) possibly on both the New Zealand and Australian stock exchanges. Now, National Business Review says the float is likely sooner rather than later.

The trans-Tasman media group hoped to raise between $NZ350 million and $NZ525 million based on mid year market valuations of the eBay-esque asset.

The successful online site was acquired by Fairfax in 2007 for around $NZ750 million from entrepreneur Sam Morgan.

Trade Me has been variously mooted to be valued at around NZ$1.7 billion based on 2.7 million active users that list around 5.5 million auctions per month.

UBS - the lead manager of the float - values Trade Me at between $NZ966 million and $1.1 billion. The current valuation excludes $NZ166 million in debt but is still markedly lower than initial anticipated revenue. ®

Boost IT visibility and business value

More from The Register

next story
BBC goes offline in MASSIVE COCKUP: Stephen Fry partly muzzled
Auntie tight-lipped as major outage rolls on
iPad? More like iFAD: We reveal why Apple ran off to IBM
But never fear fanbois, you're still lapping up iPhones, Macs
Nadella: Apps must run on ALL WINDOWS – PCs, slabs and mobes
Phone egg, meet desktop chicken - your mother
HP, Microsoft prove it again: Big Business doesn't create jobs
SMEs get lip service - what they need is dinner at the Club
ITC: Seagate and LSI can infringe Realtek patents because Realtek isn't in the US
Land of the (get off scot) free, when it's a foreign owner
Samsung threatens to cut ties with supplier over child labour allegations
Vows to uphold 'zero tolerance' policy on underage workers
Dude, you're getting a Dell – with BITCOIN: IT giant slurps cryptocash
1. Buy PC with Bitcoin. 2. Mine more coins. 3. Goto step 1
There's NOTHING on TV in Europe – American video DOMINATES
Even France's mega subsidies don't stop US content onslaught
You! Pirate! Stop pirating, or we shall admonish you politely. Repeatedly, if necessary
And we shall go about telling people you smell. No, not really
prev story

Whitepapers

Seven Steps to Software Security
Seven practical steps you can begin to take today to secure your applications and prevent the damages a successful cyber-attack can cause.
Consolidation: The Foundation for IT Business Transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.
Designing a Defense for Mobile Applications
Learn about the various considerations for defending mobile applications - from the application architecture itself to the myriad testing technologies.
Build a business case: developing custom apps
Learn how to maximize the value of custom applications by accelerating and simplifying their development.
Consolidation: the foundation for IT and business transformation
In this whitepaper learn how effective consolidation of IT and business resources can enable multiple, meaningful business benefits.