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Finzsoft has steady debut

By Phil Boeyen, ShareChat Business News Editor

Thursday 28th December 2000

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New Capital Market listing Finzsoft Solutions (NZSE: FIN) has had a steady first day on a quiet market, closing at 52 cents compared with an issue price of 50 cents.

Finzsoft is a shell company that has identified acquiring Auckland-based Systems Support Group as its key transaction.

Systems Support Group makes the Sovereign finance and banking software used by a majority of New Zealand's finance companies, including Dorchester, Marac, Elders and Fisher & Paykel Finance.

Finzsoft issued 1.2 million shares to 310 investors to raise $600,000. Three directors hold another 800,000 shares.

Finzsoft is the second software company to hit the boards this month following the listing of Software of Excellence (NZSE: SOE) in mid-December.

SOE is the leading provider of dental software in New Zealand and the UK. It issued 5 million shares for a main board listing at $1.00, and closed today at 96 cents.

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