NZME shares opened on the NZX on Monday at 85 cents, valuing the company at $167 million. NZX listing puts price on NZMEInvestors put a real value on the paper business on Monday. NZME shares remained at 85c in afternoon trading, with just under a million shares bought and sold. NZME, publisher of The New Zealand Herald, was previously owned by Australia's APN News & Media, but has been spun off as an independent New Zealand business. One major cloud hanging over NZME's business lifted on Friday, when APN and NZME agreed to settle a tax dispute with Inland Revenue for $36.3 million.

Source: Stuff June 26, 2016 20:49 UTC