By FIONA ROTHERHAM
Mowbray Collectables, first cab off the rank on the Stock Exchange's new capital market, hopes to have its key transaction completed within three to four months.
The aim is for it to acquire six companies owned by stamp dealer and auctioneer John Mowbray.
What could complicate matters is whether more funds need to be raised if other acquisitions within the collectables industry are bundled with those of Mr Mowbray.
``There is no reason, if a proposal is investigated by the directors and considered opportune, not to include it with the key transaction,'' said Mr Mowbray.
Under Stock Exchange rules for the new capital market, the key transaction has to be completed within 18 months in New Zealand or Australia.
The Mowbray listing came just ahead of that of e-Opportunity, which is seeking $600,000 from investors and hopes to list early next month.
``We're first and that gives me a feeling of satisfaction at being able to put it together from a small town like Otaki,'' Mr Mowbray said.
The company took just one week to raise an initial $600,000 from investors to add to the $275,000 already put in by directors.
Mr Mowbray holds 800,000 of the 2.3 million shares issued.
The 1.2 million offered to the public is spread between 306 shareholders.
Forsyth Barr director Andrew McDouall said investor interest was split between those keen on the new market and stamp dealers eager to be involved in the Mowbray businesses.
The company's first trading day on Thursday saw 6500 shares change hands.
The shares closed 1c up on their opening price of 55c.
The Stock Exchange said two other companies were about to put in applications for NCM listing.
Mr McDouall said Forsyth Barr had two to three companies preparing for the market and he was aware of four to five brokers working on other opportunities.
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