NZX launches inquiry into Plus SMS

The NZX has formally inquired why shares in Plus SMS, the company that bought the shell of failed RetailX, have risen so sharply recently.

The stock has shot up from 20c on September 15 and traded as high as 40c yesterday.

RetailX, caught in the collapse of building hardware firm Home Depot, was bought as a shell company that, in June, bought British telecommunications firm Plus SMS for $12 million via the issue of 240 million RetailX shares at 5c each.

- NZPA