By Chris Hutching
Friday 30th June 2000 |
Text too small? |
More details about the exchange's future options will be revealed when the annual report is issued next Monday. It will contain the findings of former board member Jon Cimino of Warburg Dillon Read. Mr Edgar said many commentators confused the exchange's performance with share prices. It was already a world leader in efficiency and settlement of transactions. But other structural differences made comparisons inappropriate.
These included the lack of a national savings scheme which underpins the markets in Singapore and Australia. New Zealand companies also paid dividends averaging 8% compared with 1% in the US where investors had higher expectations of share price rises.
Mr Edgar said Australian investors already had the ability to tap into kiwi stocks through dual listings but there was little evidence investors were rushing to buy into them.
There appeared to be no clear model of what would be most successful. Most of the international mergers occurred only in the past six months and it was too early to judge the effect. The key question remained - whether merging would benefit members, investors or companies, Mr Edgar said.
No comments yet
NZAS Sign Long Term Contracts
Amended - IFT230 Maturity and Exchange for IFT350
Synlait forecast milk price update
Chorus submits 2023 fibre regulatory report
Infratil Infrastructure Bond Exchange Offer opens
May 31st Morning Report
NZAS and Mercury sign long-term agreement, creating opportunity for future investment in renewables
Meridian and NZAS sign long term contracts
ArborGen Holdings Results for Year Ended 31 March 2024
BAI - Full unaudited results to 31 March 2024