NZME lists on stock exchange

(Newshub.)
(Newshub.)

Media company NZME has listed on the New Zealand stock exchange this morning after its Australian owners APN decided to 'demerge' its assets in New Zealand.

Shares were priced at $1 and will be traded from 12:00pm.

NZME owns the NZ Herald, various magazines, the Grab One daily deals website and the Radio Network.

The NZ listing comes after its Australian owners APN News & Media decided to demerge its Kiwi business NZME so it could list and then potentially merge with Fairfax NZ.

Fairfax NZ owns the Stuff website and various newspapers including the Dominion Post.

The merger is subject to approval from the Commerce Commission, but if successful would be completed by the end of 2016.

Newshub.

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