NEW Zealand-based Serko today made its debut on the Australian Securities Exchange (ASX), paving the way for future expansion under a dual listing.
The online travel and expense technology provider is now trading in Australia under the code SKO, in addition to its existing listing on the New Zealand exchange (TD 02 May).
It was trading at $2.79 per share early this afternoon.
“Listing on the ASX has been a longtime ambition of ours, and is a significant growth milestone,” said Serko ceo Darrin Grafton.
“Nearly 10% of Serko’s shareholder base is in Australia and being dual-listed will give us access to a larger pool of investors,” he said.
The dual listing would provide closer alignment between Serko’s capital markets profile and its principal partner and customer base, with more than 90% of its revenue coming from Australia.
“We are confident of continued growth in this market and are also undertaking global expansion initiatives, starting with the US and UK, both huge addressable markets,” Grafton said.
He also said the company was committed to its New Zealand investor base, with its primary listing and headquarters to remain in Auckland.
Serko has been listed in NZ since 2014 and was the fastest growing stock there last year.
MEANWHILE, Serko has launched the Zeno Experience Centre in its Sydney office, providing an “innovation and brand hub” where corporate travel managers can immerse themselves in new technology.
The centre is a physical space in which to understand innovations like artificial intelligence, chatbots and the New Distribution Capability (NDC).