NZX plans to scrap junior equity exchanges NXT and NZAXSUPPLIED NZX chief executive Mark Peterson says the exchange will consult on new rules for smaller companies over the next few months. The NZX plans to fold its junior equity markets, the NZAX and NXT, into its main board, which is called the NZSX but often just referred to simply as the NZX. The NZAX and NXT were designed to let smaller companies raise capital and have less rigorous compliance rules than the NZSX, but have failed to thrive. It might let smaller companies operate under different rules from larger ones when it pooled them together on the the NZSX, it said. MARKET SIZESNZSX: 169 listing with a total value of $123bNZAX: 18 listings with a total value of $457mNXT: 4 listings with a total value of $161m- Stuff

Source: Stuff June 26, 2017 21:43 UTC