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ARTICLE · 17 APRIL 2018

Far reaching changes in draft NZX listing rules

Chapman Tripp
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Article discusses key changes proposed to listing rules and NZX Corporate Governance Code. .

New ZealandFinance and Banking
Rachel Dunne
Rachel Dunne
Roger Wallis
Roger Wallis
Geof Shirtcliffe
Geof Shirtcliffe
Josh Blackmore
Josh Blackmore
Alister McDonald
Alister McDonald
Fiona Bennett
Fiona Bennett
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NZX has today released the exposure draft of a new set of listing rules with far reaching changes, as well as changes to the NZX Corporate Governance Code, reflecting the strong mandate for change it received through its recent consultation process.

The structure and drafting of the new rules is significantly different to the existing rules, with a clear focus on ease of use.

Submissions are due by 8 June 2018.

Key changes proposed

Key changes to the current rules which are reflected in the exposure draft include:

  • a shift to a single equity market, consolidating the current three boards (NZX Main Board, NXT Market and NZAX). NZX has indicated the NXT Market will likely close to new listings in Q3 2018

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