Unlisted Secures First Bond Issuer

Unlisted Secures First Bond Issuer

Unlisted is delighted to announce that Albany City Property Investments Limited (ACPIL) is to be its first issuer for 2007, as well as the first company to quote debt securities on Unlisted.

ACPIL’s debut on Friday 2 March 2007 is the first of what is expected to be a busy year for Unlisted, according to manager Bruce Cossill. “We are currently in discussions with several other potential issuers who are considering their trading arrangements and I am optimistic we will see the Unlisted board grow strongly in the next few months.”

ACPIL is the first pure debt product to be quoted on Unlisted. ACPIL’s secured bonds will be quoted and traded on Unlisted from Friday 2 March 2007 under the stock code ACPI_BONDS.

“Having ACPIL join the facility is an exciting start to 2007 for Unlisted and illustrates the flexibility we provide for equity, debt and hybrid securities issuers. ACPIL bondholders will now be able to experience the benefits of a transparent trading environment with improved liquidity and price discovery.”

Albany City Property Investments Limited has plans to develop residential, office and bulk and specialty retail premises at Albany’s new city centre on Auckland’s North Shore. Plans are also underway to build a hotel, retirement village and entertainment facilities on its 12.85 hectare site.

The Albany City precinct is projected to be North Shore City’s major commercial centre with a population of more than 9,000 residents and 15,500 workers once developed to capacity.

Albany City Property Investments finance director Garry Looker says ACPIL chose Unlisted as its preferred trading platform because of its cost-effective and simple mechanism. “Unlisted provides a solution that I’m sure will be appreciated by our investors,” Mr Looker says.

Since its launch in December 2003 Unlisted has transacted over 4,100 trades of 71 million securities worth $60 million. Mr Cossill says “Consistent trading volumes and values demonstrate the enhanced communication, price transparency, liquidity and choice Unlisted provides for investors, and confirms its ongoing contribution to the New Zealand capital markets.”

ENDS

NOTE: Unlisted is a trading facility that is not a registered stock exchange under the Securities Markets Act. All Unlisted Issuers are bound by the standard Unlisted terms and conditions, and their company constitutions. Also, all companies trading through Unlisted are subject to existing legislation, such as the Companies Act 1993, Fair Trading Act 1986, Securities Act 1978 and the Commerce Act 1986, as well as Common Law.

--

Unlisted is the trading name of Efficient Market Services Limited

© Scoop Media