New securities market welcomes first listing

Commerce and Consumer Affairs Minister Paul Goldsmith today welcomed the first listing on NZX’s new securities market, called NXT.

"NXT is a simpler, lower cost securities market aimed at making it easier for smaller businesses to list and raise capital," says Mr Goldsmith.

"There are a large number of smaller and mid-sized businesses that need an injection of capital to be able to innovate, grow and create jobs," he says. "I am pleased to see NZX succeed in getting this market off the ground."

"Through the Financial Markets Conduct Act reforms last year we made it possible for businesses to access alternative, more flexible ways of raising capital while also opening up investment opportunities for New Zealanders."

"The new regime allows for simpler, tailor-made listing and disclosure requirements," he says. "NXT has been designed with rules that are more suited to the needs of companies that aren’t ready to list on the NZX Main Board."

"The reforms to our financial markets were part of the Government’s Business Growth Agenda to restore confidence in our financial markets and allow businesses to raise capital efficiently so they can grow their business and the economy," Mr Goldsmith says.