Local authorities should look at selling assets - NZX boss
Now that parliament has passed the mix ownership legislation the NZX CEO wants local authorities to look at assets that could be sold the same way.
Speaking this weekend on TV3’s “The Nation”, Tim Bennett, NZX CEO said he was going to work to provide New Zealanders more opportunities to invest than just power companies.
There are some other sectors of the economy, those assets that are in public ownership, particularly by local authorities where we need to think reasonably creatively about how New Zealanders can share in the ownership of those assets while still maintaining control,” he said.
He said Christchurch airport was an example of what he was talking about.
“I think the mixed ownership model provides a good template of how these things should be done.
“You look at the Ports of Tauranga as another example where local authority maintains a major stake in these assets, and also allows New Zealanders to invest alongside the local authorities in parts of our infrastructure.
Mr Bennett said he had not yet talked to local authorities about his proposal.
Instead in the two months he had been in the job he had been concentrating on talking to fund managers and brokers.
“There's tremendous support for the New Zealand capital markets, but there's a clear demand for different types of investment opportunities for New Zealanders to invest in the market.
“And one of the things we need to work on is across that range of different opportunities.”