NZX-listed SMW Group Limited has applied to the NZ RegCo to de-list and continue operations as an unlisted widely held New Zealand company.
If approved by shareholders and NZ RegCo, de-listing would reduce costs and improve the balance sheet, allowing SMW to position itself to capitalise on a recovery in the mining sector in the Bowen Basin.
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The deal is subject to regulatory approvals and commercial conditions.
Every sector of the Australian share market has lost ground.
The S&P/NZX 50 Index closed at the day’s low of 12,349.47, down 46.79 points or 0.38%.
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