Premium wine maker, Marlborough Wines Estates Group Limited (MWE) has confirmed it will become the third wine company to list on the New Zealand stock exchange when it joins the NXT market as a compliance tomorrow.

James Jia, executive chair of Marlborough Wine Estates, said listing on the NXT market will provide the company with a number of benefits.

“The strong governance framework, transparency requirements and public company disciplines that come with being a listed company are an important part of building trust and credibility with our partners, suppliers and investors,” Jia said.

“Our company is set to take off and, with the support of our shareholders, we are committed to building Marlborough Wine Estates into a premium provider of artisan wines, particularly to China,” he added.

Jia said the company sees a number of opportunities for growth, both from the fast growing number of wine consumers in China, as well as other targeted markets such as Japan, South Korea and the US.

“China is now thought to be among the top five wine-consuming countries in the world with wine imports increasing over 40 per cent to $420 million in the last year alone. Wine is seen as a status symbol among the emerging middle class in China and premium wine is becoming an affordable everyday luxury for these consumers,” Jia said.

“However, the number of people who understand and enjoy white wine is still small relative to a likely market of some 100 million alcohol consumers. This presents a significant opportunity to develop and exploit the white wine market, which is forecast to grow rapidly.”

Marlborough Wine Estates, the third wine company to list on the New Zealand stock exchange, owns vineyards in the Awatere Valley in Marlborough and produces Sauvignon Blancs under two brands – O:TU and Music Bay.

Marlborough Wine Estates Group will list on the NXT market under the code MWE.