It's been slim pickings for investors seeking new opportunities on the NZX but law firm Chapman Tripp says New Zealand's equity capital markets are showing signs of revival.
The firm, in its annual edition of New Zealand Equity Capital Markets, said consolidation of NZX's boards, changes to fees and rules around on-market trading, the new NZX listing rules and recommendations from Capital Markets 2029, drove significant change to New Zealand's equity capital markets in 2018 and 2019.
Chapman Tripp corporate partner Rachel Dunne said that despite the moderate projections for markers such as initial public offer activity, a sure sign of NZX's better bill of health last year was found in the banner listing, the Napier Port IPO.
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The offer received strong Australian institutional investor demand in spite of opting not to dual list on the ASX.