FMA approves NZX's new growth stocks NXT market

Mon, 29 Sep 2014

By Suze Metherell Sept. 29 (BusinessDesk) - The Financial Markets Authority has approved the NZX's new NXT market for high growth or "momentum" stocks, with the stock market operator expecting it to launch later this year. The regulator's approval was the last sign off the Wellington-based stock market operator needed for its new market it said in a statement. NXT is intended to lure more small-to-medium sized firms to the bourse with less costly and simpler disclosure rules, filling a funding gap for mid-cap growth stocks that was first...

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