Russell McVeagh helps blockchain company make history with NZX listing

Russell McVeagh has helped Auckland-based TradeWindow to make history by being the first blockchain company to list on the NZX.

The company is working to “redefine trade and leverage digital solutions to support trade for New Zealand,” Russell McVeagh explained. TradeWindow officially listed on the NZX Main Board on Monday.

The company has not conducted a capital raise or issued shares, according to the NZX announcement. Moreover, TradeWindow’s listing profile does not include forecast financial information.

“Any future capital raising will likely be prior to the company reaching cash breakeven,” the NZX said. “As an early-stage software business, TradeWindow expects to raise capital in the future for funding acquisitions, expansion and general operating expenses.”

Under listing rules, the company must sustain best practice governance under the supervision of independent directors, as well as provide operational transparency through a continuous disclosure regime.

“It’s a massive achievement – a huge amount of work goes into these deals, and we’re really pleased to have our first blockchain company listing on the Exchange,” said Sarah Minhinnick, NZX GM – capital markets origination, in an NZX LinkedIn post.

The NZX added that the TradeWindow team is “leveraging digital solutions to support one of the things that is fundamental to New Zealand – trade.”

“TradeWindow is only three years old, and through COVID-19, it really accelerated the adoption of our trade products and digitised the entire trade process. The dream of creating a full digital end-to-end trading environment might just be a reality in the next five to ten years,” TradeWindow CEO AJ Smith said in the post.

Russell McVeagh corporate partner Ian Beaumont led the team that worked on the landmark transaction. He was supported by Kristina White, Daisy Archibald and Tyrone Toia.