Rua Bioscience among slim pickings

AUCKLAND: Aside from Rua Bioscience’s listing on the NZX last week it has been slim pickings for investors, but the talk continues that more stocks will make it on to the exchange before the year is out.

The medicinal cannabis company’s shares have been well supported, the 50c shares last trading at 67c.

Rua’s debut was the first full equity listing in a year, but agedcare company Radius is understood to be in the throes of undertaking a compliance listing soon.

Compliance listings typically involve a company gaining a presence on the exchange without raising fresh capital, but affording them the right to do so upon becoming a listed entity.

Radius Care is a specialist health and agedcare provider for elderly and disabled New Zealanders.

The company is New Zealandowned and operated. It has 22 locations around New Zealand, employs more than 1500 staff and provides professional aged care for more than 1700 residents.

The company was established in 2003 to meet New Zealand’s growing demand for aged care and associated healthcare services.

Early in 2010, chief executive and director Brien Cree led a management buyout of the company, which brought it back into New Zealand ownership from foreign investors.

‘‘We also expect both Saturn Advisory, with $500 million in funds under management, and Hobson Wealth ($3 billion) to be added to the Wealth Technologies platform in the coming weeks, which is a key catalyst in our opinion,’’ the broker said.

‘‘Given its strong balance sheet, diversified revenue streams and defensive qualities NZX remains attractive and we raise our target price to $2.03,’’ Forsyth Barr said.