New Zealand-based operator 2degrees has confirmed that its shareholders are exploring the potential listing of 2degrees on the main board of the New Zealand Stock Exchange (NZX) and Australian Securities Exchange (ASX) in the second half of 2021 or early 2022.
Any such listing would be subject to market conditions and it is noted that no decision has been made to proceed with an IPO to date.
2degrees continued to grow strongly in 2020 despite COVID, and now serves more than 1.6 million subscribers throughout New Zealand, including more than 500,000 pay monthly mobile customers and over 130,000 broadband customers. Alongside growth in consumer mobile and residential broadband, 2degrees continued to gain traction in the business market, recently surpassing 100,000 mobile business customers.
Brad Horwitz, Chair of the 2degrees Board and President and CEO of Trilogy
Equity markets are strong globally, telecom valuations are attractive, and the New Zealand dollar is at a multi-year high. This compelling macro backdrop, combined with the resilience, scale and growth of the 2degrees business, suggests now is an opportune time for the shareholders of 2degrees to explore a partial listing of the business.
Mark Aue, Chief Executive Officer of 2degrees
2degrees has fundamentally changed the New Zealand communications market, and last year was no different. In 2020, we invested heavily in our mobile network, making significant improvements to the service we provide in regional New Zealand.
