NZX to cancel Insured Group listing over repeated rule breaking

Thu, 27 Feb 2014

By Suze Metherell Feb. 28 (BusinessDesk) – NZX, New Zealand’s stock exchange operator, will de-list Insured Group, which last traded in April, after repeatedly failing to comply with listing rules. Insured Group will officially be de-listed at the close of trading on March 7, after using the shell of Lombard Group, the parent of failed lender Lombard Finance & Investments, for a backdoor listing on the exchange in 2010. Trading in the shares has been suspended since October after the group failed to file an annual report. The shares last...

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