Trade Me's parent company Fairfax Media Limited has today announced plans to sell between 30 per cent and 35 per cent of Trade Me via an initial public offering.
Fairfax announced the proposal via a notice to the ASX this morning.
The IPO remains subject to financial market conditions, but if it goes ahead it would see Trade Me become a stand-alone, publicly listed company on the New Zealand Exchange (NZX).
Consideration would also be given to an ASX listing, the company said.
The media group, which today posted a A$400 million annual loss, said that will raise between $350 million and $525 million based on recent valuations of the business, which will be used to repay debt and increase dividends.