Submarines Australasia up for listing

Submarines Australasia expects to become the sixth company to list on the Stock Exchange's New Capital Market.

Sponsored by Wellington-based broker Reuhman and Co, it plans to acquire New Zealand company Submarine Adventures, of which John Reuhman is a director.

Fellow directors David Skeggs and Dr Philip Mladenov are also directors of Submarines Australasia, along with John Forster and Alan Graham.

Former Tourism Board chief executive Paul Winter is chairman of the company, which is listed on the Stock Exchange's secondary board.

Submarine Adventures intends taking tourists to New Zealand's 305m-deep coral cathedral in Milford Sound from November in specially designed submarines.

Shares in Submarine Australasia will be offered from next Wednesday until October 31.

- NZPA