Markets

NZX sets an example of good corporate behaviour

Jenny Ruth
Mon, 07 Mar 2022

NZX sets an example of good corporate behaviour
Chair James Miller said the underwriters weren't given a choice of capital raising structure. (Image: supplied)
Jenny Ruth
Mon, 07 Mar 2022
It was splendid to see that stock exchange operator NZX chose to lead by example when it launched its $44 million capital raising, following the example set by Move Logistics last year.These are the first capital raisings since covid-19 first arrived on our shores that were scrupulously fair to both companies' existing shareholders.Both were accelerated renounceable equity offers, or Areos.While NZX's listing rules on capital raising are littered with words such as "fair and reasonable" and "in the best interests" of...

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