Smiths City to list on NZSX next Monday

1.00pm

Christchurch retailer Smith City's fast-track move onto the New Zealand Exchange's NZSX main board will take place next Monday.

The company is presently listed on the NZAX alternative market but said last month it intended to transfer to the NZSX after New Zealand Exchange (NZX) granted it a waiver allowing it to make the move before its annual meeting on September 9.

NZX today announced that following the completion of paperwork, Smiths City would cease trading on the NZAX on Friday July 16, and would begin trading on the NZSX on Monday July 19.

Last month the company announced a $4.33 million audited net profit for the year to April, up 7.1 per cent on the April 2003 result.

Smith City currently has a market cap of $41.3 million and its shares last traded yesterday on the NZAX at a 12-month high of 78c.

- NZPA