It has been informed that an online website `Trade Me' will be selling off its 30 to 35% of shares to public. It is believed that if Trade Me turns out to be favored stock then it would be listed on the Australian Security Exchange (ASX).
It has come to light that David Kirk would be taking up the role of Non-Executive Chairman of the company. Previously, he has worked as Fairfax boss. Many analysts are hopeful that the floating of Trade Me would bring ample revenue to the company.
The market commentator, Arthur Lim is hopeful that the floating would bring revenue of $500 million. If the prediction by Arthur Lim turns to be true then it would be the first time a company would receive such a higher sale since 2005.
`Trade Me' is the one of the most popular website; its floatation would raise its premium by manifold. However, doubts are being raised over the number of investors taking part in its floating. As the world's economy is going through a terrible financial crunch, the investors are not looking confident in making investments.
Since the launch of Trade Me, many customers have opted for online sale and purchase. The site has proved effective in saving valuable time of customers. Since its launch, about millions of customers have used the site for the purpose of sales and purchase.