New listings promise busy week on NZ exchange

It is another bumper week for listings on the New Zealand Exchange.

Leading off is kiwifruit co-operative Satara, which debuts on the NZAX today.

The Te Puke company, described as one of the country's largest kiwifruit and avocado post-harvest businesses, will list just over 16 million "investor" shares.

These were issued five years ago to Satara suppliers, but have never before traded.

On a much larger scale, Gullivers Travel Group will become the country's first listed travel agency when it lists on Wednesday.

The group owns the Holiday Shoppe and United Travel franchises.

Also listing on Wednesday is audiovisual equipment importer and retailer Eastern HiFi. Managing director Steve Allbury will own 48 per cent of the listed company.

The NZSX-50 last week fell below 3000, closing at 2981.89 on Friday.

At Direct Broking, Brett Wilkinson said the retreat was a "healthy correction".

"It's a bit like running up a hill.

"When you get to the top you need to have a little rest."

He said the market was taking a breather before it moved back through 3000, probably in the first quarter of the new year.

"In the lead-up to next year's results season we should see it punch through [3000 points], underpinned by Telecom, which seems to have a good support level around $6."