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NZX Operating Metrics released today showed capital raised by new and existing NZX Listed Issuers hit a record of $5.5 billion in 2007.
Total capital raised during the year comprised $2.79 billion in equity and $2.72 billion of debt.
NZX Markets Development Manager, Geoff Brown said, "In addition to 2007 listings, there was a significant amount of secondary capital raised during the year. NZX listed companies such as Rakon, Fletcher Building, Goodman Property Trust and Methven have raised significant capital to fund further growth and acquisitions."
Average daily trades for 2007 were up 6% on 2006 at 2,478. The new Trayport GlobalVision trading system and two new features of the system, anonymous trading and a closing auction, were introduced in July 2007.
In the second half of 2008, following the upgrade of the Clearing and Settlement system, a much wider range of market products will have the potential to trade on the New Zealand market, including commodity derivatives and carbon. These major technology upgrades, along with continued flow on effects of KiwiSaver and PIE, are expected to have a positive impact on market liquidity.
"The listings pipeline is looking strong for 2008. With more listings, a better trading environment for existing NZX Listed Issuers and a broader range of equity, debt and derivative products available, we expect an increase in average daily trade numbers in 2008 and beyond," said Brown.
Another highlight in 2007 was the continued growth of the NZDX Market, with market capitalisation now at $10.4 billion, up from $8.5 billion at the beginning of the year.
Geoff Brown said, "We have seen an increase in the size of the NZDX Market, the number of investment grade products available and in appetite from investors for fixed interest market products.
"The NZDX Market offers transparency and trading ability, which New Zealand investors are now demanding in light of unlisted finance company failures in the last eighteen months," said Brown.
New Zealand market data continues to be in demand globally, with the number of real time NZX Data terminals up 20% in 2007 to 10,627.
The NZX Operating Metrics are released on the first Tuesday of every month and are available on the NZX website.
You can view the NZX Market Month for Full Year 2007 and December 2007 at the following link:
http://www.nzx.com/aboutus/news/press/metrics_dec07
