Chorus begins trading on the NZSX

Network operator lists as 'CNU,' will become fully independent on 30 November

Network operator Chorus began trading on the main board of the NZX stock exchange today, listing under the ticker symbol 'CNU'.

Computerworld attended a breakfast event held this morning at the Hilton Hotel in Auckland's Viaduct district to mark the commencement of trading at 10am.

Chorus chairman designate Sue Sheldon said the listing means New Zealanders now have the opportunity to invest in the future of their local telecommunications network.

Attendees were shown a commercial with a voiceover by Star Trekactor William Shatner. According to a Chorus spokesperson there are no plans to air it on TV, but it will be used internally and will feature on Chorus' website.

Chorus’ listing marks one of the final steps towards the structural separation of New Zealand’s local access network business from Telecom. Court approval for the split was given earlier this month after 99.8 percent of votes from Telecom shareholders were in favour of demerger. Chorus will become a wholly independent business on 30 November 2011.

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