155 year-old NZX on life support

The depth of Australian capital markets is a major challenge for the NZX. (Image: Getty)

Sat, 14 Aug 2021

This week’s announcement that NZX-listed ikeGPS Group has raised A$21.3 million (NZ$22.3m) of new equity through an Australian broker is another nail in the coffin for our struggling sharemarket operator.It demonstrates that the NZX business model is broken, the stock exchange’s ecosystem of domestic brokers is rapidly dissolving and the company has little choice but to focus on funds management, as have most NZ broking firms.On a positive note, we are in an age of innovation and disruption and there is a great opportunity for a new...

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