Trade Me shares climb to 3-month high as it joins S and PASX 300, market cap eclipses Fairfax

Trade Me shares climb to 3-month high as it joins S and PASX 300, market cap eclipses Fairfax
By Paul McBeth Sept. 7 (BusinessDesk) - Shares in online auction site Trade Me rose to a three-month high on news it will join the S&P/ASX 300 index this month, and its market capitalisation eclipsed that of its biggest shareholder Fairfax Media Group. Trade Me will join the index on Sept. 21 as a result of the Australian Securities Exchange's quarterly review, the Wellington-based company said in a statement. The shares climbed 2.8 percent to $4.05, its highest level since May 31, and have surged 50 percent since Fairfax spun it out in Nove...