The ultimate Trade Me trade

We don't often get the chance to buy back part of a formerly Kiwi company.

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10th September, 2011

When shares in online auction website Trade Me are offered to the market towards the end of the year, there’ll be a scramble to buy unlike anything ever seen on Trade Me’s own bustling auction pages. Trade Me’s owner, Australian publishing giant Fairfax, plans to list 30-35% of Trade Me on the NZX. Analysts have valued Trade Me at $1-1.5 billion, so it will be a sizeable listing, the type of which our stock exchange rarely sees. Struggling with the transition to the digital world, Fairfax is bleeding cash – a $400 million loss this year as it wrote down massively the value of its ...

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