There are now two stocks trading on Sydney’s Asia Pacific Exchange, after the listings of Chinese-backed Australia Samly Holdings and ZhongHuan Yun Holdings Group today.
Both companies floated at 11am to an audience of about 100 investors and Chinese media.
Vitamin distribution company Australia Samly Holdings, trading under the code 8SA, hoped to raise $10 million, with its offer price of $1 a share giving it a market capitalisation of $40 million.
Transport company ZhongHuan Yun Holdings, trading under the code 8ZH, hoped to raise $6.61 million, with its offer price of $0.76 giving it a market capitalisation of up to $26.4 million.
Both companies were trading above their offer prices as of 1pm, with 8SA at $1.06 and 8ZH at $0.90. Baker & McKenzie advised on both listings.
There are currently four brokers dealing in APX shares: BBY, CMC Markets, BNY Mellon’s Pershing Securities, and State One Stockbroking.
The APX has held an Australian market operator’s licence since 2004, although it initially operated as the Australia Pacific Exchange until a change of ownership in 2008.
It is based in the Central Square building on Castlereagh Street and targets Chinese companies and investors, with information available in English, traditional and simplified Chinese.