Zip Shares Soar in Sydney After Mulling Nasdaq Dual-Listing Plan

Zip Co. Photographer: Brent Lewin/Bloomberg

(Bloomberg) -- Zip Co. shares jumped as much as 24% on Friday after the Australian digital payments platform said it was considering a dual listing on the Nasdaq, as part of its push to expand in its key growth market.

Shares popped the most the most since April 10 in early Sydney trading. Zip intends to maintain its primary listing on the Australian Securities Exchange, the company said in a statement on Friday.

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A potential US listing would support the company’s growth opportunity in the US, with Zip seeing an increase in US investor interest, according to the statement.

The dual listing remains subject to board approval and obtaining regulatory approvals in the US.

--With assistance from Jackie Edwards.

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