New Zealand founded freight forwarding software firm TradeWindow has rung the bell for it NZX main board listing.
The company had its first day of trading on Monday and was up from its estimated listing price of 92 cents per share and finished the day at $1.70 per share with a market capitalisation of just under $150 million.
The business is an early-stage software company that provides digital solutions for exporters, importers, freight forwarders and customs brokers.
Its software solutions integrate to form a digital trade platform using blockchain technology which enables parties to establish trust and securely transact over the internet.
https://fb.watch/9rUyVBm3qL/The company sees itself as an emerging player in the trade-tech market which is valued at around US$2.8 trillion, providing $309.5 billion of whitespace for digital trade solutions across Australasia, Asia and South America.
TradeWindow chair Alasdair MacLeod says the business is committed to delivering the vision of connecting all parties across global supply chains to deliver trusted and seamless end-to-end digital trade.
“Trade is the lifeblood of economies around the world and we’re proud to facilitate trade for many of the organisations that make up the back-bone of our economy,” MacLeod says.
The company was not raising capital or issuing shares in conjunction with the listing and did not provide any forecast financial information in the listing profile.
It says it expects to raise capital in the future for funding acquisitions, expansion and general operating expenses.
