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New Zealand Exchange Limited (NZX) is pleased to announce that Comvita Limited will transfer from the NZAX to the NZSX Market today.
Comvita is one of the best performing companies listed on the NZAX Market. The m arket capitalisation of Comvita has grown to $60 million since listing in November 2003.
NZX Markets Development Manager, Geoff Brown said, “Comvita has successfully used the NZX Markets in two capital raisings of $7.5 million in 2004, and $10.3 million this year, allowing the company to pursue growth opportunities in New Zealand and abroad. Comvita has established and continues to build a particularly strong brand in overseas markets.”
A member of the NZX SciTech Index, Comvita has been announced as a finalist in the upcoming 2006 NZTE Exporter of the Year Awards - AgriTech, Life Sciences and Biotechnology category. Comvita was also awarded both the Westpac People's Choice and the IAG TrailBlazer Award at the recent Westpac Sustainable Business Awards.
Comvita CEO, Brett Hewlett said, “We are delighted with our transfer to the NZSX. Our NZAX listing was a natural way for us to be introduced to the stock market. We would encourage other companies to list on the NZAX, because it allows them to raise capital for growth and become familiar with a Listed Issuer environment in preparation for a listing on the main board.”
Shares in Comvita will be quoted on the NZSX Market under the security code CVT from 10am today.
