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21 November 2016
ikeGPS (ASX:IKE) announces that it has dual listed on the Australian Securities Exchange under the ticker IKE.
“Our primary listing remains on NZX, and we remain committed to our New Zealand investor base,” says ikeGPS CEO and Managing Director Glenn Milnes. “However, this ASX dual listing via the foreign exempt rules is an extremely cost efficient and effective mechanism to access a broad pool of potential institutional and retail investors in Australia. ikeGPS has already bought several new Australian institutional investors onto its register in 2016, and this dual listing potentially enables more Australian parties to invest.
“As context, the ASX ranks among the top five global exchanges with a total market capitalization of around $1.5 trillion and almost 2,200 listed companies. Another factor for our business is that the market opportunity for ikeGPS products is growing in Australia, where we expect to see increasing sales for IKE 4, Spike in the signage industry and the Smart Measure Pro in the construction industry via Stanley Black & Decker in the medium term.”
Australian Securities Exchange is one of the world’s leading financial market exchanges, offering a full suite of services, including listings, trading, clearing and settlement, across a comprehensive range of asset classes. ASX is a world leader in raising capital, consistently ranking among the top five exchanges globally.
With a total market capitalisation of around $1.5 trillion, ASX is home to some of the world’s leading resource, finance and technology companies. Our $47 trillion interest rate derivatives market is the largest in Asia and among the biggest in the world.
ASX’s network and data centre are connected to leading financial hubs. Speed, reliability, state-of-the-art technology and the diversity of the user community, are fundamental to the success of the Sydney-based ASX Australian Liquidity Centre.
We operate in a world class regulatory environment, meeting the highest global standards. Our clearing houses are among the most secure and well capitalised in the world, and help underpin the stability of Australia’s financial markets.
ASX has over 150 years of exchange experience and a highly skilled team of 530 people. We put our customers at the centre of everything we do: 6.7 million share owners, 180 participants, and almost 2,200 listed companies and issuers.
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