New Zealand gave Aussie investors 16-bagger Xero; which other Kiwi companies call the ASX home?
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Since Xero (ASX:XRO) listed on the ASX in 2012, it has risen from less than $5 to over $84 today – a gain of 1,700 per cent. But did you know Xero’s listed life began on the New Zealand Exchange (NZX)?
The accounting software giant first went public in the Land of the Long White Cloud back in 2007. In 2012 it dual listed on the ASX and spent five years trading on both exchanges before controversially exiting the NZX in 2017.
That begs the question, are there any other potential 16-bagger Kiwis on our bourse?
The answer is yes (to the Kiwi bit, not sure if they will become 16-baggers though). Here’s a list.
There are a handful of large caps including Air New Zealand (ASX:AIZ) and casino operator Skycity (ASX:SKC). But there are also a bunch of small caps, including one that has gained 600 per cent in just six months. Not bad.
Bug killer Zoonoo (ASX:ZNO) surged last year having entered several global markets. Its latest ambition is to fight African Swine Fever.
While many small caps have lofty ambitions, studies have shown Zoonoo’s products can actually help. This could be particularly handy in the context of China’s pork shortage.
Another Kiwi health stock is Volpara Health Technologies (ASX:VHT). Volpara has developed breast cancer imaging technology that can detect tumours earlier than current standards. In the last 12 months it’s gained 45 per cent.
There is also a Kiwi childcare company, Evolve Education (ASX:EVO), on the ASX. One reason New Zealanders have taken a liking to Oz is the greater access to investors. Case in point, Evolve raised $60m in May last year.
The second biggest gainer of New Zealand-based ASX small caps is, like Xero, a tech stock. The silver medal winner is EFTPOS solution provider Smartpay (ASX:SMP), which is up 173 per cent in six months.
But Smartpay is currently exiting its New Zealand business to capitalise its Australian operations.