NZSE to list and raise more capital

Tuesday 6th May 2003

The New Zealand Stock Exchange has announced that it intends to list its shares on the main board of the exchange and raise some more capital, however it isn't giving any date of when this may happen.

It made the announcement in a short press release today, which concluded: "this is the full and final statement on this matter at this time."

In the statement it said the company has spent the past nine months "undergoing an extensive strategic review of all of its business and infrastructure."

As a result of this review, several key initiatives were identified as critical to the company's future success. These included; the rationalisation and redevelopment of all aspects of the capital markets, the restructuring of NZSE's legal and regulatory framework, and the reorganisation of NZSE's internal and external operating structures. Much of this work is nearing completion and NZSE is now moving into the next crucial phase of its development.

In conjunction with its proposed listing NZSE also proposes to raise further capital. Further details of NZSE's proposed capital raising will be made available to existing shareholders and released to the market towards the end of May.

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