NZX Markets Development Manager Geoff Brown said the latest approvals are indicative of the steady growth in the number of professional services firms that are accredited to bring companies to NZX's markets.
“We're seeing this growth reflected in new listings this year. Just Water International, which opened its share offer this month, is a great example of a company that has enlisted NZX Sponsors as its main partners in the listing process,” he said. “It's a real opening of the listing pipeline – we now have a huge range and number of organisations out there that are working to bring companies to market.”
Just Water International Limited, which will list on the NZAX Market next month with the assistance of NZX Sponsors Giffney & Jones and Harmos Horton Lusk, is the first company to conduct an initial public offering of shares using the NZX Sponsor facility.
The NZX Sponsor role enables a greater range of organisations to assist companies plan, prepare for and achieve a listing on the NZAX Market. The role recognises the strong and long-standing relationships many companies have with professional services advisors outside the traditional listing process.
The NZX Participant Rules which came into force on 3 May 2004 enable an NZX Sponsor to assist a company with listing on any of NZX's markets, not solely the NZAX.
A directory of NZX Sponsors is available at www.nzx.com/market_prof.
