QR National marks one-year ASX milestone
Today marks one year since the listing of QR National on the Australian Stock Exchange
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QR National celebrates one-year ASX milestone
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November 22, 2011
Today marks one year since the listing of QR National on the Australian Stock Exchange.
After debuting at $2.55 per share ($2.45 for ‘mum and dad’ retail investors) in November last year, the rail freight haulage operator closed at $3.46 yesterday.
As reported by Deloitte, QR National held number two position on the Queensland Stock Index in September after a solid performance throughout the year - despite
some interruptions caused by
the floods.
It was beaten only by Suncorp Group, which retained its number one spot on the Deloitte Queensland Index.
Upon its listing on the ASX, the Queensland Government owned the majority stake in QR National at 33.7 percent of shares.
According to Queensland's Deputy Premier Andrew Fraser, the Government plans to sell down its remaining stake of QR National sometime after the company posts its 2012 results.
"We have committed to using those funds to pay down debt, and we do not waver from that," Fraser says.
At the time of the company’s float, the Government maintained its decision for QR National to forge ahead in the private sector despite public opinion being divided over the State's planned asset sell-off.
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