Energy efficient lightbulb maker Energy Mad is now listed on the New Zealand stock exchange.
The company raised $5 million through its initial public offering, which it plans to use to fund further expansion overseas.
Founders Tom Mackenzie and Chris Mardon of Christchurch have retained 56% of the firm, which they are unable to sell for a year.
Some 460 investors hold the remaining 44% of shares on issue.
Among these, Intermoco, a metering company listed in Australia, holds a 7.36% stake.
Grant Williamson who is a director at stockbrocking firm, Hamilton Hinden Greene, says it could be some time before shares in the newly-listed Energy Mad are traded regularly.
Energy Mad debuted on the stock market on Wednesday, and trading got off to a slow start, with only 500 of the 38 million shares on issue changing hands.
Mr Williamson says it's typical for share trading in small companies to begin slowly.
He says investor interest will only come about through the company proving its results and gaining a track record.
Mr Williamson says one positive thing is that there has been no large selling coming into the market, which shows the initial subscribers are not disappointed and are taking a medium to long term view on the company.
Energy Mad shares were listed at $1.00, and closed their first day of trading at $1.05.
The float is only the third on the NZX this year. Heartland listed in January, and Broken Hill Prospecting listed in February.
