The shares of NETeller, the on-line e-wallet firm, headquartered in the Isle of Man, suffered on the first day of being re-introduced to the Alternative Investment Market on Wednesday.

They shed 113p to stand at 63p at the close.

Meanwhile, the company says it will progress its plans to implement a distribution plan for the return of US customers' funds by July 30.

The firm says a trading update for the first quarter of the year demonstrates resilience of European and Asia Pacific business.

President and Chief Executive Officer Ron Martin says the the restoration of trading in the company’s shares marks the first step in a new chapter for the group, following the resolution with the US authorities announced last week.

He continues: 'On-line payments in many market sectors are growing rapidly and we believe that the e-wallet will continue to grow in popularity due to its convenience and safety, as more and more people source goods and services through e-commerce communities. While there is much work to do and many challenges lie ahead, we believe the company is well positioned to benefit from these trends.'