Jasons shares dip below issue price

Shares in Jasons Travel Media closed 2c or 4 per cent lower than their listing price on their first day of trade on the NZAX alternative market yesterday.

Jasons issued 7.2 million shares at 50c each in a fully subscribed offer and they traded as high as 54c soon after their NZAX debut at 11am before closing softer on turnover of 13,900 shares.

Jasons provides travel information to visitors to New Zealand, Australia and the South Pacific Islands either through its 35 different publications or the internet.

It was founded in 1967 by chief executive John Sandford, who retains a 36.5 per cent holding after the float of 42.3 per cent of the company.