Mobile payments company Pushpay Holdings says it does not have "short term" plans to delist from the local stock exchange.
Pushpay provides mobile donation services to churches and charities in North America (File image). Photo: 123RF
The New Zealand-owned, US-based company, provides mobile donation services to churches and charities in North America.
Its case for being dual-listed on the NZX and the ASX appears to be weakening, given that it generates 98 percent of its revenue in North America, its chief executive and 82 percent of its staff is based there, and it had just announced it was now transferring its intellectual property to its US subsidiary for tax purposes.
Forsyth Barr analyst Matt Noland said in a research note that the company's internal restructure strengthened its view that Pushpay would leave the local markets and list in the US.
But Pushpay chief executive Molly Matthews said that was not on the cards, for now.
"Our board of directors reviews where we have the best opportunity for growth, both for shareholders and also for customers, and the innovation of our business," she said.
"At this point in time, we do not have short-term plans to list in the US.
"The expense and weight of those decisions doesn't outweigh benefit."
Matthews said the company would continue to keep its head down and focus on its growth strategy.
Following the company's [https://www.rnz.co.nz/news/business/466877/pushpay-holdings-lifts-net-profit-to-53m
full year result] which was released yesterday, Matthews said the company would continue to invest in adding staff and new growth opportunities.
Pushpay provided the market with long-term projections forecasting that the total value of money processed on its platforms would exceed $15.9 billion and it would have more than 20,000 customers by the year ending March 2025.
The company processed $12.1b and had a total of 14,508 customer for the year ended March.
Matthews said the forecast was based on the company capturing a 20 to 25 percent share of the Catholic church market, various initiatives to encourage greater use of its platform, as well as expanding the reach of Resi Media - a live streaming provider with a strong footprint in the faith sector the company acquired seven months ago.
Pushpay had no update on recent takeover interest that was revealed to the market last month.