Revamp planned for AX
Amelia Wong, head of cash markets, said it was too early to say what that would look like and whether it would be in addition to or instead of the existing Alternative Market (AX). There has been only one new listing on the AX in the past year. Snakk Media listed in May.
Wong said NZX wanted to facilitate listings from smaller companies. “The listing process costs a certain amount of money, that’s hard for medium enterprises. The plan is to target these companies and make it cheaper to list, and give them more support.”
She said the NZAX had been designed with those same principles in mind, but people struggled to understand the difference between it and the main board.
Wong said the alternative market could be a stepping stone for private companies that did not have the full board of directors, auditing and investor relations in place for a full listing.
Click the button below to subscribe and will have free unlimited access for a limited time to full article and all other articles on the site.
You will also be able to comment on articles on Good Returns.
