Media firm plans stock exchange listing
Mobile media entrepreneur Derek Handley plans to list a new company on the stock exchange.
Snakk Media, a "new screen" media start-up, will launch on the alternative exchange NZAX in coming months.
Handley, a New Zealander, is well-known for founding mobile ad agency the Hyperfactory with his brother Geoffrey before selling the company to US-based Meredith Corporation two years ago.
Handley holds the role of chairman of Snakk Media, which was co-founded with Australian Andrew Jacobs in 2010.
The company operates in Australia, enabling advertisers to target smartphone and tablet users.
It plans to expand into Asia and increase its share of the Australian mobile advertising market from its present 15-20 per cent.
"We live in an era where the fastest growing technology channels in history are colliding: social media, smartphones, and tablets," Handley said in a statement.
"Time spent by consumers on these new screens and channels is rising at a faster rate than time spent viewing other kinds of media, and this is significantly disrupting traditional advertising models and providing a tremendous opportunity for Snakk's shareholders."
The company said an application for an NZAX listing is underway.
It has appointed Max Flanigan, a former leader of APN News & Media's Australasian mobile strategy, as its New Zealand-based technology and partners manager.