Recall makes positive debut on market

SHARES in Recall, the information management business formerly part of Brambles, rose on their first day of trading on the Australian share market.

Recall, which manages and stores documents and records, was recently demerged from Brambles, and its shares closed at $4.50 after opening at $4.15 at 1200 AEDT.

More than 32 million shares changed hands.

Chief executive Doug Pertz said it was an exciting day for Recall, a firm that serviced many large multinational companies.

"It is a strong business, with high quality customers and recurring revenue streams across a diverse geographic base," Mr Pertz said in a statement.

"Recall has excellent growth prospects in both developed and emerging markets, with strong cash flows from which to fund growth, innovation and dividends to shareholders."

Brambles, which retains its pallets business, announced the demerger of Recall in July 2013, after failing to sell the business.

Brambles earlier said the demerger enabled it to concentrate on growing its pooling solutions business, which provides reusable CHEP and IFCO pallets, crates and containers to industry.

Recall has about 312 million ordinary shares trading on the market.

Shares in Brambles dropped 42 cents to $8.86.

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