Cameron Partners appointed NXT adviser to support prospective companies
First NZ Capital has already been appointed market maker for NXT.
Cameron Partners has been appointed an adviser to NZX's NXT market, which will see the Wellington-based investment bank support new listings on the stock exchange operator's new market.
The investment bank's appointment means it will assess whether applicants are suitable for a NXT listing, assist them with their applications, declare their suitability for listing, and provide support to a listed company, NZX said in a statement. NXT companies are required to engage an adviser firm for at least three years after listing, unless they are granted a waiver.
"We continue to be pleased with the level of interest from companies considering a NXT listing, and the appointment of Cameron Partners as an adviser marks another key milestone in the development of this market," NZX head of markets Mark Peterson said.
NZX's NXT market was designed for companies with market capitalisations ranging from $10 million to $100 million and is described as having a less onerous disclosure regime because it requires regular reporting of key operating metrics rather than the continuous disclosure regime that operates for companies listed on the NZX main board.
The market was set up to replace the NZX's Alternative Market (NZAX), which failed to spur interest from smaller companies to join the bourse.
NXT launched in June with the compliance listing of mail operations and document management firm G3 Group, though hasn't added any new companies since then.
First NZ Capital has already been appointed market maker for NXT, and Edison Investment Research as the market's research provider.
NZX shares last traded at $1.03, and have declined 12% this year.
(BusinessDesk)
Paul McBeth
Mon, 10 Aug 2015
Mon, 10 Aug 2015
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Cameron Partners appointed NXT adviser to support prospective companies
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