TIL Logistics Group took a day to close its first trade as a public company following yesterday's reverse listing, with a small transaction crossing at more than twice the price the deal put on the shares.

The New Plymouth-based trucking and logistics company, formerly known as Transport Investments, joined the bourse after completing a reverse listing through Bethunes Investments yesterday, although buyers and sellers didn't manage to meet on day one.

Today 2,000 shares changed hands at $3.50 apiece, more than twice the $1.50 value implied by the reverse takeover, while another 1,250 shares traded at $2.80 apiece.

"TIL Logistics Group Ltd notes that there is a wide bid-ask spread in TLL's shares, following the successful completion this week of TLL's acquisition of the Transport Investments Ltd business and an $11.51 million private placement to part fund that acquisition," chief financial officer Greg Whitham said in a statement.

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"TLL encourages people who wish to trade in TLL shares at this stage, while there is a limited liquidity in the shares, to seek financial advice before doing so."

The latest trading price values TIL Logistics at $228m. The reverse listing was funded through a $100m banking facility, $11.5m private placement, and share issue, which placed an implied equity value on the company of $122.2m at the $1.50 share price.

The transport company had planned to list through an initial public offering, but gave up on those plans in mid-2017 after being advised "market conditions were not conducive, in part because of the New Zealand general election and likely resulting market uncertainty." It began discussions with Bethunes in August and completed the transaction earlier this week.