Move Logistics Group is celebrating its official dual listing on the Australian stock exchange (ASX).
The 153-year old New Zealand company, which has been listed on the NZX since 2017, started trading as a foreign exempt entity on the ASX on July 1.
Move chair Lorraine Witten says the dual listing was an important milestone for the transport firm.
“This takes our company one step closer to achieving our aspirations to be a significant transport and logistics provider across Australasia.
“We have an exciting strategy and are executing on opportunities to strengthen and grow our business.
“The dual listing provides access to a broader range of investors and a larger pool of capital as we look to unlock the full value of our company for shareholders in Australia and New Zealand,” Witten says.
With a refreshed leadership team and board brought in from mid-2021, Move has embarked on a two-year journey to stabilise, turn around and grow the business, building on its heritage and strong regional roots, the company says.
Over the last 12 months, the company has introduced the new Move brand (previously TIL Logistics Group); restructured and simplified the business; assembled a team of highly experienced industry experts to lead the business; and initiated a new coastal shipping strategy with $10m in co-funding from Waka Kotahi.
