Business
Zip Co goes shopping for US investors, mulls second listing – The Australian Financial Review
Payments group Zip Co is going to the home of rival Afterpay’s biggest supporters to try to bridge a $35 billion valuation gap between the two companies.
It is understood Zip is considering issuing American Depositary Receipts that would mirror shares in the company, trade in the US and give the company greater access to US capital markets.
It could keep its primary listing on the Australian Securities Exchange, and have a secondary listing for those investors who cannot make it to the ASX or would prefer to stick with stocks on the Nasdaq or NYSE for mandate or other reasons.
The ADR deliberations are said to be at an early stage, and come as brokers…
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