Privacy company Mega’s stock-market listing fails

A proposed back-door listing of Mega, the privacy service founded by Kim Dotcom, has failed.

Listed shell TRS, which was to acquire Mega in order to list it on the New Zealand Stock Exchange, informed the market on Wednesday that it would be unable to secure shareholder approval for the deal before a May 29 cut-off date. “It has become evident that this condition will not be satisfied within this time frame,” TRS said in a notice to the NZX.