Australian company MFS Living and Leisure has applied to list on the New Zealand stock exchange, days after its parent's finance company announced plans to list through a reverse takeover.
MFS Living and Leisure said it would apply for an overseas listing on the NZX regardless of whetherits takeover offer for Tourism Holdings Ltd succeeded.
Chief executive Marshall Vann said the overseas listing in New Zealand would allow local shareholders to more easily invest in a strong leisure sector business.
"Through our takeover offer for Tourism Holdings we have indicated our commitment to the New Zealand market," Mr Vann said.
"Our application to NZX for this listing affirms that commitment."
NZX is currently processing the application for listing, which would allow domestic investors to trade MFS Living and Leisure shares through a local broker in New Zealand dollars.
The company's $2.80 per share cash offer for Tourism Holdings has been recommended by directors, and was within an independent valuer's range of $2.67 to $3.07 per share.
ASX-listed MFS Living and Leisure owns tourism operations around the world including aquariums and ski resorts. It has a market capitalisation of A$185 million ($211m), compared with Tourism Holdings' $271m market cap.
On Tuesday, finance company owner MFS NZ said it planned to list on the NZX through a reverse takeover of shell company Vistron.
MFS NZ, 40 per cent owned by MFS Living and Leisure's parent company MFS Ltd, said last year it planned to become a substantial player in the New Zealand financial services industry.
MFS Living and Leisure shares were down a cent at A$1.02, while Tourism Holding shares were up a cent at $2.76, below the offer price.
