The NZX announced earlier this week that it has entered into a non binding Memorandum of Understanding with new London stock exchange PLUS Markets Group.
Under the MOU, NZX and PLUS Markets will explore potential alignment of regulatory requirements that would enable companies listed on either market to dual list.
In 2007, PLUS-quoted companies raised over GBP 45 million in primary and second-round fund raisings. That does not strike me as a particularly large amount; particularly since there are currently more than 200 companies admitted to trading on the PLUS-quoted market with a combined market capitalisation of over 2 billion.
I do not know enough about the liquidity of Plus Markets. Having observed however the very low liquidity of the NZX SciTech Index in recent times, any new initiative that introduces NZX companies to more global capital must be welcomed.
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