Feeds

Trade Me set for end of year float

$NZ300m under Fairfax’s Xmas tree?

Choosing a cloud hosting partner with confidence

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. ®

Internet Security Threat Report 2014

More from The Register

next story
Bono apologises for iTunes album dump
Megalomania, generosity and FEAR of irrelevance drove group to Apple deal
Facebook, Apple: LADIES! Why not FREEZE your EGGS? It's on the company!
No biological clockwatching when you work in Silicon Valley
Doctor Who's Flatline: Cool monsters, yes, but utterly limp subplots
We know what the Doctor does, stop going on about it already
Arab States make play for greater government control of the internet
Nerds told to get lost in last-minute power grab bid at UN meeting
Apple SILENCES Bose, YANKS headphones from stores
The, er, Beats go on after noise-cancelling spat
Zippy one-liners, broken promises: Doctor Who on the Orient Express
Series finally hits stride, but Clara's U-turn is baffling
Don't bother telling people if you lose their data, say Euro bods
You read that right – with the proviso that it's encrypted
10 Top Tips For PRs Considering Whether To Phone The Register
You'll Read These And LOL Even Though They're Serious
Stop ROBOT exploitation, cry striking Foxconn workers
HP downturn and automation eroding overtime on China's production lines
prev story

Whitepapers

Forging a new future with identity relationship management
Learn about ForgeRock's next generation IRM platform and how it is designed to empower CEOS's and enterprises to engage with consumers.
Win a year’s supply of chocolate
There is no techie angle to this competition so we're not going to pretend there is, but everyone loves chocolate so who cares.
Why cloud backup?
Combining the latest advancements in disk-based backup with secure, integrated, cloud technologies offer organizations fast and assured recovery of their critical enterprise data.
High Performance for All
While HPC is not new, it has traditionally been seen as a specialist area – is it now geared up to meet more mainstream requirements?
Saudi Petroleum chooses Tegile storage solution
A storage solution that addresses company growth and performance for business-critical applications of caseware archive and search along with other key operational systems.