Stock trading on Trade Me 'already possible'

Trade Me founder and chief executive Sam Morgan said while shares had probably already been offered for sale on the website at some point, if he became aware of securities being listed the company would remove them and seek legal advice.

But Unlisted manager Bruce Cossill said while the process was "a little more complicated than offering a 1998 Holden car", there was probably nothing to prevent shares being sold on Trade Me at the moment.

Securities Commission general counsel Liam Mason backed that view."Anyone who holds shares can sell them privately and that's all this would be." However, the seller would be responsible for the paperwork.