NZX works for New Zealand listed companies in UK markets

NZX Communications
Nzx | Monday, 22 September 2008

NZX announced today that it has entered into a non binding Memorandum of Understanding with new London stock exchange PLUS Markets Group. 

Under the MOU, NZX and PLUS Markets will explore potential alignment of regulatory requirements that would enable companies listed on either market to dual list. 

NZX Market Products Manager, Damas Potoi said, "We are very excited to be working closely with PLUS Markets to explore the provision of an efficient means for our NZX Listed companies to access markets in the UK and Europe via a 'passporting' arrangement. 

"PLUS Markets share the same vision for high growth, high potential companies as NZX does.In this context we will be working on behalf of New Zealand companies with an export eye on those markets. A seamless dual listing process would enable them to manage costs effectively while extending their international profile and export capability," said Potoi. 

Simon Brickles, CEO of PLUS Markets, said, "We are excited at the prospect of opening the door to additional international issuers via NZX, providing enhanced profile and liquidity across leading financial centres by offering access to a broader pool of equity capital than is provided by existing markets." 

PLUS Markets signed a similar MOU with the operator of the Munich Stock Exchange in July this year. 

For NZX, the MOU adds further weight to its strategy of strengthening New Zealand capital markets and exploring sound offshore opportunities. In this case the potential is for New Zealand listed companies to explore, evaluate and, ultimately, exploit. 

NZX will advise the market as further developments in this potential partnership occur. 

ENDS 

About PLUS Markets Group 

PLUS is a new stock exchange for London, specialising in small and mid-cap securities. PLUS offers a range of trading and listing services. It currently offers a quote-driven market in the shares of around 7,500 companies including the constituents of the UK Official List and other securities admitted to trading on pan-European Regulated Markets (including those shares classified as "liquid" under MiFID). It is focused on serving the needs of investors in growth companies and offers an IPO solution via its PLUS-quoted and the new PLUS-listed markets as well as a range of trading services. There are currently more than 200 companies admitted to trading on the PLUS-quoted market with a combined market capitalisation of over 2 billion. In 2007, PLUS-quoted companies raised over 45 million in primary and second-round fund raisings. The new PLUS-listed market – an EU Regulated Market for listed securities seeking admission to the Official List – attracted its first listing, with Mears Group choosing to dual list its securities on PLUS-listed when it moved to the Official List on 23 June 2008.

For more information please contact: 

Lucy McFadden 

NZX Communications 

lucy.mcfadden@nzx.com 

04 496-2890 

027-512-7832

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