Revenue rises for NZX

  • 29/04/2016
Revenue rises for NZX

NZX has posted a 9.6 percent gain in first-quarter revenue as more companies turned to the debt market to raise funds, driving listing fees for the stock market operator.

Revenue rose to $18 million in the three months ended March 31, up from $16.4 million a year earlier, it said.

Of that, listing fees made the biggest contribution at almost $3 million, up 13 percent from a year earlier, despite a sluggish start to the year for initial public offerings.

The pick-up in fees came from $1.4 billion of new debt being listed, with companies taking advantage of low interest rates to raise money.

NZX shares last traded at $1.01, and have dropped 8.4 percent over the past year.