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NZX’s Peterson said it is a competitive market, but there is a role for all capital types, and the like of private equity can be good “staging posts” for companies before they list on the exchange.Ĭhief executive of investment and advisory firm Jarden Securities, James Lee, said bringing new companies onto the local exchange right now is tough, right around the world. Then there are the companies like Tegel, TradeMe and Goodman Fielder who left the NZX when private equity firms snapped them up. The key reasons it cites for this include getting access to a larger market, enabling investors to buy and sell shares in bigger volumes more easily and having more global analysts and brokers covering it. However, it listed on the NZX, then co-listed in New Zealand and Australia, before subsequently moving its main listing just to the Australian exchange.

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And that's come from private investment, essentially through private networks, which has enabled us to do lots of things including attracting a high-calibre team and board to get the business to the stage it’s at now.”Īccounting software company Xero is a pin-up Kiwi firm. “Over the past three years, we've raised nearly $22 million.

So, it's just not the right time”, chief executive Andy Coster said. “Hammerforce is still in the start-up phase. While it doesn’t rule out listing on the NZX or elsewhere one day, it has not done so yet - despite having former NZX chair Simon Allen on its board. It developed a new way of using high pressured air to power mechanical devices like nail guns. Hammerforce is an exciting Kiwi start-up company. He said a lack of brokers and analysts compared to Australia as well as a lack of diversity on the NZ exchange is hindering us. “They’ve (the Australian stock exchange) set up an office in Auckland and they're going around unlisted New Zealand companies trying to convince them that they need to list on a stock exchange and if they're going to list they should list on the Australian exchange,” said Milford Asset Management co-founder Brian Gaynor. But there are challenges - one of which is the Aussies. Cheaper online investment platforms have also helped. The Government’s partial sale of energy companies like Mighty River Power helped bring new investors into the market, as has KiwiSaver. Trading today is done electronically from the share brokers’ own offices and the NZX is a company listed on its own exchange.

He tells of the shares being sold on a street corner there, with people coming from as far afield as Australia to get in on the action.īut long gone are the days of selling shares on a street corner, or brokers yelling on the trading floor while “chalkies” frantically scribble up share price movements. They had to get money to set up the banks and (the banks themselves) would sell shares.”īut he said a stock ‘exchange’ really flourished in Thames in the late 1860s in gold mining company stocks.

“Banks were set up to process all the winnings from the alluvial gold in Gabriel’s Gully and other parts of Otago.

“The first selling of shares was in Dunedin for banks,” said Wellington-based historian David Grant who wrote a book on the history of the New Zealand stock exchange called Bulls, Bears & Elephants. Not such golden times, although the origins of our stock market are in the goldrush of the 1860s.

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