Snakk Media is the first company to list this year, taking a spot on the NZX alternative market.
The company, which specialises in helping clients advertise on smartphones, began trading on the NZAX on Wednesday morning.
At the launch of trade, the company revealed its plans for future capital raising which includes offering a share purchase plan to shareholders in the second quarter.
Snakk operates in Australia and says revenue more than quadrupled in the March 2012 year.
Snakk estimates it holds about 15% to 20% of the money spent on mobile advertising.
Growth strategy for the next year will be focussed on increasing its market share in Australia.
Snakk Media chairman and cofounder Derek Handley says the NZAX is the ideal platform to raise funds without the high costs of an initial public offering.
He says it enables the company to get its existing shareholders to invest more, but also enables people to come on the market who aren't current shareholders.
"You know for the current shareholders to become bigger shareholders and for new shareholders to join the journey."
Shares in Snakk Media doubled their opening price of 12 cents a share on the first day of trading on the NZAX.