NZX sells 30% stake in Appello

NZX has sold its 30% shareholding in Appello Services Ltd (ASL), a specialist New Zealand unit registry services business.

The stake was sold to remaining shareholders of ASL who are directors and senior managers, according to the company's website. ASL's chairman is well known businessman Craig Stobo.

The price paid was not disclosed but NZX said it will mean a writedown of about $70,000 on the investment in its accounts.

NZX has retained first right of refusal to purchase any of the shares in ASL.

NZPA

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November 5th Morning Report