NZX half-year shareholder metrics released

Last updated 10:41 28/07/2014

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The listing boom on the New Zealand stock exchange continued in the first half of this year, with more than $3.5 billion being raised in initial public offerings.

Four companies, Genesis Energy, Inturei Education Group, Serko and Gentrack, listed during the period for a total of $3.52b, according to NZX half-year shareholder metrics released today.

This was down 8.1 per cent from the same period last year, which featured the partial privatisation of Mighty River Power, the largest of the three state-owned power company listings. Meridian Energy was listed in the second half and was not covered by the metrics.

Trading volume in the half was up 21.9 per cent year-on-year to 644,373 trades, about the same number of trades as seen on the Australian stock exchange in a typical day.

This increase was largely a result of more smaller trades, with the number under $50,000 up 24.1 per cent to just under 600,000, or 93 per cent of all trades.

Although trading volume was up, the value traded during the half was down 15.7 per cent year-on-year to $17.6b.

NZX's dairy derivatives market is showing impressive growth, with 32,389 lots traded in the first half of the year, up more than 300 per cent compared to the same period last year.

June was the biggest trading month since the market launched in late 2010, with 10,346 lots traded. NZX's Australian business Clear Grain Exchange saw a slight increase in trading, up 1.6 per cent to 317,223 tonnes in the first half despite an early end to the 2014 grain season.

Smartshares, the NZX's managed funds arm that specialises in exchange-traded funds, saw a 6.1 per cent increase in units on issue and a 13.6 per cent increase in market capitalisation to $375 million.

NZX has also released its regulatory statistics for the second quarter.

NZX Regulation began 32 investigations during the quarter in relation to issuers, in addition to the eight investigations that were ongoing at the beginning of the quarter. Ten investigations remained ongoing at the end of the quarter. NZX began 21 investigations in relation to share-broking firms this quarter.

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- The Dominion Post

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