Forum Archive Index - October 2001

["geoff_julie" <gk_jawalker@paradise.net.nz>]

well done Ben, another excellent and timely article but alas I'm not sure what effect, if any, it will have on the NZSE old boys club.  Without public pressure nothing will change, the old boys club will dither and procrastinate until the cows come home and there is no exchange left but a joint Tasmania / NZSE. 

 

The NZSE old boys club have a proud record this year - one dud IPO (Wakefield Hospital issue price of $2.50, now $2), what a joke!  How hard can it be to generate new business?  I have a suggestion:  obtain a copy of the NZ business who's who and identify all companies that have a turnover, sales etc. > than $x.  After (easily) identifying, actively encourage them to consider a listing, offer inducements, lower the cost, help with prospectuses, etc.  Even if there was a 5% take up, the potential could be huge.  I would love the opportunity to invest in companies like Tait Electronics, Gallagher Industries, Stevenson's Concrete products, etc., etc.  The NZSE attitude "companies will knock down our door to list" obviously ain't working.  They must not let the market continue sliding down the gurgler.

 

Can I suggest you forward this article (in it's entirety) to the NZ Herald, Dominion, and Christchurch Press?  I'm sure the likes of Brian Gaynor, Mary Holmes, Terry Hall would love to get in on the act and add much long overdue pressure.

 

Let us not idly sit by and watch the demise of our stock market, it is vital to our long term economic well-being!

 

Regards

 

Geoff Walker