Spotless dual-lists shares in NZ

Shares in Australia-based Spotless Group can now be traded in this country after a dual-listing on the New Zealand stock exchange.

The listing by the laundry, hospitality and cleaning contractor follows its purchase of the 34 per cent of shares in laundry services company Taylors Group it did not already own.

Spotless chairman Peter Smedley said the dual-listing was a demonstration of the company's long term commitment to this country where it employed more than 12,000 people.

It was also intended to provide a broader group of investors with an opportunity to own part of a growing global services business with close links to New Zealand, he said.

The Spotless share price closed across the Tasman at A$2.85 ($3.58) on Friday. Around 11.30am today the NZX showed no transactions in the newly listed shares in this country, with the asking price at $3.87 and a bid of $2.

- NZPA