Warehouse seeks full ASX listing

Currently around 40 companies on the ASX have 'exempt' status, but the exchange is planning to tighten the rules from June 1, forcing a number of New Zealand firms to become fully listed. More than half of those 40 companies are from New Zealand.

Warehouse chairman, Kevin Smith, says his company has made a substantial investment in its retail business in Australia and the decision to retain a listing reflects a commitment to both growing its sales and shareholder base there.

The Warehouse says it will remain listed on the NZSE and if granted full listing on the ASX, will be listed on both exchanges.

By far the majority of exempt New Zealand companies on the ASX have announced they plan to seek a full listing, including Air New Zealand, Auckland International Airport, Tower and Fletcher Building.

However a few have decided that the shift to a full listing is not worth the cost, including Contact Energy, Evergreen Forests and IT Capital.

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