Trade Me takes 16% stake in Sharesies for $4M

Mon, 03 Sep 2018

By Paul McBeth Sept. 3 (BusinessDesk) - Trade Me paid $4 million to become the biggest shareholder in start-up fund distribution platform Sharesies, which it sees as opening up "big revenue pools". The Wellington-based company announced the "small investment" in its annual result last month, saying the size of the investment was "commercially sensitive and not material". Documents lodged with the Companies Office dated Aug. 24 show Trade Me paid $14.11 a share to build a 16 percent stake in Sharesies, valuing the firm at $24.4 million. ...

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