Guide to Listing
Download the NZX Guide to Listing

NZAX Listing Rules
Listing rules here

NZAX Application Documents


The 2005 notice came into effect on 1 June 2005 and replaces the Securities Act (NZX-NZAX Market) Exemption Notice 2003 (“the 2003 notice”) which expired on 31 May 2005.

The 2005 notice carries forward the effect of the 2003 notice, which exempts NZAX Issuers from the requirement to provide an investment statement to prospective investors before they subscribe for securities and instead requires NZAX Issuers to register a prospectus with an alternative schedule of contents.

The 2005 notice also includes a number of minor changes, provision for transitional arrangements to ensure that offers commenced under the 2003 notice can be completed and extends the effect of the exemptions, subject to conditions, so as to enable the following:

  1. offers of previously allotted securities to be made in the same manner as an offer of new securities by an NZAX Issuer, and
  2. a short-form prospectus to be used for offers of equity securities that are to be made to existing holders of equity securities or convertible securities of an NZAX Issuer, or persons in whose favour an offer of this type is renounced.

The 2005 notice also carries forward the amendment made in March 2005 which gave NZAX Issuers the option of making a second or subsequent offer to the public by distributing a copy of the registered prospectus relating to the offer to every subscriber (rather than only being able to undertake subsequent offers on market).

Other listing documents
Listing agreement (PDF, 30 KB)
Bank Bond form (PDF, 25 KB)
Director Acknowledgement form (PDF, 22 KB)
Substantial shareholder notice form (Word, 75 KB)
Sponsor Declaration form (PDF, 27 KB)

Sample company constitution
NZX's role is to regulate the NZAX Market and monitor and enforce compliance with the NZAX Listing Rules. As such, any assistance or advice to prospective NZAX Issuers in relation to their compliance with the NZAX Listing Rules could compromise NZX's ability to act as a credible and independent regulator.

However, while we can not provide you with any specific advice in relation to your company's constitution, we have provided a sample constitution which we believe is consistent with the NZAX Listing Rules.

You may wish to adopt this constitution for your company or use it as a guide. Note however that NZX does not guarantee that the sample constitution complies with the NZAX Listing Rules, and use of the sample constitution does not bind or restrict NZX in any subsequent determination as to the compliance of that constitution or in any other regulatory action undertaken by NZX. Assurance as to the suitability or otherwise of the constitution should be obtained from your legal advisors. Download the sample constitution (PDF, 251 KB)

NZAX Fee Structure
Download the Listed Issuer Fee Structure

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