TradeWindow debuts on the NZX at 25% premium

TradeWindow has debuted on the NZX at $1.15 - up from its 92c reference price. Photo / File

Software tech startup TradeWindow debuted on the NZX at a 25 per cent premium, giving it a market capitalisation of $99 million.

The company, which provides digital solutions for exporters, importers, freight forwarders, and customs brokers, saw its share price trade at $1.15 - up from its 92c reference price.

TradeWindow is a compliance listing, which means that by complying with NZX disclosure rules it has the option of raising capital from the market at some point in the future.

The company has already received backing from ASB and Zuru Group co-owner Anna Mowbray.

Alasdair MacLeod, TradeWindow's chair, said last week the listing would further cement the company's status as a trusted partner for large commercial enterprises and government agencies, as it looks to rapidly scale up the business.

"As a software solutions provider for those on the frontline of global trade, trust and transparency are key. The disciplines and disclosures required of us as a listed entity will support our role as a trusted intermediary for our customers and partners," he said.

"These include the many listed companies, co-operative entities and governments who use our software solutions to enable their international trade," MacLeod said.

In September TradeWindow raised $15m through a series A round.

Leading the investment round were existing shareholders ASB Bank and Bay of Plenty Council-owned Quayside Holding - the majority shareholder in the Port of Tauranga.