NZX drops bid for NSX stake

NZX, operator of the New Zealand sharemarket, has withdrawn a bid to buy a controlling stake in a small Australian market operator.

NZX shares were down 19c to $7.55 yesterday. NZX announced shortly after 5pm that it was withdrawing its offer to buy a 50.1 per cent stake in NSX of Australia, based on current indications that the purchase would be unlikely to receive the support of a sufficient number of NSX shareholders.

NZX said the NSX share price had risen steeply.

- NZPA