TRS shares soar 700 percent after Dotcom’s Mega flags $210M backdoor listing on NZX

Tue, 25 Mar 2014

By Paul McBeth March 25 (BusinessDesk) – Shares of TRS Investments, a penny-dreadful shell company, soared 600 percent after Kim Dotcom’s Mega Ltd announced plans for a backdoor listing on the NZX that would value his data storage and encryption firm at $210 million. TRS stock rose to 0.8 cent, the highest in seven years, from 0.1 cent. The company would buy 100 percent of Mega by issuing 700 million new shares to Mega shareholders at 30 cents apiece, before undertaking a 148 for 1 consolidation. Mega shareholders would own 99 percent of TRS...

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