NZX says it doesn't know why shares have declined

Fri, 24 Oct 2014

By Tina Morrison Oct. 24 (BusinessDesk) - NZX, the stock market operator, said it doesn't know why its share price has declined, in response to a query from its disciplinary arm. The New Zealand Markets Disciplinary Tribunal special division was alerted on Oct. 17 when shares of NZX fell 8.7 percent over 20 days to $1.16 from $1.27. The share price fell further to close at a two-year low of $1.14 on Oct. 20, which is 17 percent below its June 20 close of $1.38, special division chairman Andrew Beck said in a query to the NZX. "We are a...

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