Sharechat Logo

Where can I find information about companies on the secondary board?

Tuesday 23rd April 2002

Text too small?
Q: I am currently looking at investing in a company who has shares to offer in a public pool. They are going to trade on the NZ stock exchange on the second board. My question is, once I have purchased these shares where can I obtain information on their buy/sell prices and keep track of how well they are doing? Is the second board info available in newspapers as well as the main index?

A: The Unlisted Securities Facility is also known as the NZSE's second board. Companies that trade on the second board are not bound by NZSE Listing Rules and are therefore often difficult to obtain information on. There are no up to the minute trading prices for second board companies.

One of your main source's of information will be from the companies half year & annual reports. Some second board listed company's do use CompanyWire to keep their shareholders informed, i.e. Synergy International. If you would like to be able to have access information on your company via this medium then you should suggest it to the company.

A number of broker websites will quote unlisted securities but don't have much other information about them. Several companies also have their own websites. Have a look at the Company Links section of ShareChat to see if a particular second board company website is listed.

Second Board company's can often be illiquid and settlement can take slightly longer than for listed companies, although this has improved dramatically in recent years. It's not all doom & gloom though - there are some success stories that have spent their lives on the second board, such as Kapiti Cheese.

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

Why do NZ companies list offshore?
How do I find what specific companies make up a sector index?
What is the difference between a renouncable and non-renouncable rights issue?
What advice can you give a beginner?
How do I begin investing in the sharemarket?
Where can I get investment information or advice?
How do I research a company I may want to buy shares in?
What are share issues and placements?
How much money do I need to start buying shares?
How do I choose a broker?