NZAX acclaimed in 2006 guide

Improvements being shown by the NZX's alternative market are encouraging, says Grant Thornton International.

The organisation of independently-owned and managed accounting and consulting firms' 2006 Global New Markets Guide shows that the NZAX is one of those showing growth, as its number of companies, total market capitalisation and average market capitalisation by company all improved during 2005.

Guide figures show the number of companies in the NZAX grew from 22 at the end of 2004 to 25 at the end of 2005; total market capitalisation grew from $340 million to $430 million; and average market capitalisation by company rose from $10 million to $20 million.