Just Water International boss Tony Falkenstein. Photo / Dean Purcell
A new year, and it appears Just Water International boss Tony Falkenstein isn't looking to back down from being a thorn in the side of sharemarket operator NZX.
He's been a vocal critic of the exchange's NXT market, which went live in June and has attracted only two listings despite
much fanfare about potential issuers in the lead-up to the launch.
Now Falkenstein - whose firm is listed on the NZAX, which NXT aims to eventually replace - is suggesting NZX pull the pin on the new market entirely.
"If it is not going to work, then get out of it quickly, before you are left with a half-hearted structure that becomes difficult to close," he told the Business Herald on Friday. "Maybe NZX have decided that the alternative exchange (NZAX) was a dog, but after 10 years of operating, it is impossible for NZX to get rid of this structure without offering a major benefit to the 21 NZAX members."
Falkenstein, who has also accused NZX of "price gouging" on fees, has previously made it clear that he has no interest in shifting Just Water's listing to NXT, which has a looser disclosure regime than the main board and is targeted at growth-focused firms valued at $10 million to $100 million.
