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NZX is pleased to launch the consultation process on a proposed new growth market (the “New Market”).
The New Market is an exciting innovation in New Zealand’s capital markets. It is designed to provide small and mid-sized New Zealand businesses with an easier and lower cost alternative to accessing external capital. It also provides an opportunity for investors to access up-and-coming New Zealand businesses. Some of these businesses are in an earlier stage of development than many investors have previously had access to.
Key features of the market include:
- A market aimed at small to mid-sized businesses with an expected market cap of $10-100 million
- Reduced costs and complexity, during both the listing process and ongoing
- More support for companies listed on the market
- Streamlined regulatory environment, with a set of simpler, template based rules and procedures
- The presence of market making and research to aid liquidity
As part of the development of this New Market, NZX is seeking submissions and input from interested parties into the underlying rules and procedures, which will underpin the New Market.
NZX has released a Consultation Memorandum and exposure drafts of the Market Rules that will regulate the New Market. For a copy of the Consultation Memorandum and further information about making a submission, please refer to the following link:
