New Zealand crushes Australia each year in the rugby, but our share market mauls the New Zealand Exchange (NZX) for size, liquidity and profile with global investors. That is why more NZ companies are dual listing on the ASX, creating opportunity for Trans-Tasman investors.
I have followed this trend for the Switzer Report over the past few years and believe many more NZ companies will dual list on the ASX this decade and next – or in Xero’s case, move its NZ listing to the ASX.
Several factors support this trend. First, ASX changes in September 2015 made it easier and cheaper for NZ companies listed on the NZ share market’s main board to list on the ASX. They do not need to submit a special prospectus or deal with two sets of listing rules.