Completion of Retail Bookbuild and Equity Raising

Completion of Retail Bookbuild, concluding the Equity Raising

16 March 2022 - NZX Limited ("NZX") advises that it has completed the retail shortfall bookbuild component ("Retail Bookbuild") of its underwritten 1 for 9 accelerated pro-rata renounceable entitlement offer ("Entitlement Offer”). As a result, NZX has now completed its equity raising, as originally announced on Thursday, 17 February 2022 (“Equity Raising”).

Approximately NZ$44 million was raised via the Equity Raising. The proceeds of the Equity Raising will be used to fund our investment into Global Dairy Trade, replenish our balance sheet following the settlement of the acquisition of the management rights to the ASB Superannuation Master Trust on 11 February 2022, and also provide capacity to support the investment across our market platform as we continue to scale our growth businesses.

The 12,912,670 new shares not taken up under the retail shortfall bookbuild will be distributed to the institutions who sub-underwrote of the Entitlement Offer. These institutions included a number of long-term existing shareholders and new shareholders.

NZX CEO Mark Peterson said, “We are very pleased to have completed the equity raise in the face of the significantly adverse market conditions observed over the last few weeks. Prior to the developments in the Ukraine / Russia situation, we were delighted with the strong support shown by institutional investors in the institutional offer and institutional shortfall bookbuild, which saw a clearing price achieved which was well in excess of the offer price. While demand in the retail component of the offer has been impacted by market conditions, we are pleased with the strong support for NZX from a number of existing institutional shareholders who sub-underwrote the majority of the retail component of the equity raise. The proceeds from the capital raise allows us to continue to invest across our market platform and deliver on our strategic priorities whilst retaining a very strong balance sheet.”

The NZX settlement date for new shares issued under the Retail Entitlement Offer and Retail Bookbuild is Friday, 18 March 2022. Allotment of the New Shares on the NZX, is also expected to occur on Friday, 18 March 2022. Holding statements for the new shares issued under the Retail Entitlement Offer will be dispatched on Monday, 21 March 2022.

Further information

Further details of the Equity Raising are set out in the Investor Presentation provided on Thursday, 17 February 2022.

Any enquiries should be directed to:

Graham Law, Chief Financial Officer, NZX
[email protected]

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Announcement PDF