NZX: Capital Raised In First Four Months Of 2009 At Record Levels

NZX Operating Metrics for April released today show $3.199 billion in capital has been raised in the first four months of 2009, already higher than the $3.113 billion raised for the entire 2008 year.

Total debt raised year to date is up 39% on the same period last year. Total equity raised year to date is up 308%.

NZX Markets Development Manager, Geoff Brown said, “There is momentum returning
to the market and our outlook is increasingly positive as the year progresses. Debt raisings are at record levels and there was almost a billion of equity raised in April. Current capital raising record is the $5.5 billion raised in 2007, and we are tracking well to exceed this in 2009.

“It is great to see existing NZX Listed Issuers taking advantage of recent Listing Rule changes and we expect to see strong secondary equity raising continue through the year. The growth potential of the debt market is also recognised, and further developments to enable a broader range of organisations, including local authorities and SOEs, to access the debt market to raise capital are underway,” said Brown.

There was $997 million of equity raised and $747 million of debt raised in the month of April. Total capital raised year to date is $3.199 billion, a breakdown of $1.138 billion in equity and $2.061 billion in debt. Daily average trades were 2,225 in April, which are the highest levels since October 2008. Average daily value traded was $102 million in April, the highest value since September 2008. Trading on the NZDX market remained strong, up 39% on the same period last year at 3,498 in April.