Are equity crowdfunding regulations too light-handed?
In NBR Print today: Tim Hunter notes shares in training provider Intueri are suspended and worthless after the appointment of administrators to the company this month – a far cry from its $235 million market capitalisation on listing in 2014. He writes that the prospectus for that float highlighted the quality of its biggest training school, Quantum but its value was entirely written off after regulatory action cast doubt on its future. As the post mortem begins, Hunter’s Corner argues the origins of the collapse can be traced to false statements in the prospectus.
Solid Energy chairman Andy Coupe knew he was taking on a challenge when he joined the state-owned coal miner’s board but it turned out to be much greater than he – or anyone – expected. In the first of a series on corporate troubleshooters, the former investment banker talks about why he took on the job, how he handled it, and the personal cost of doing the right thing.
As Beca bears down on its centenary, the infrastructure consultancy service company is in the process of redesigning its business, Nick Grant writes. The purpose, as group chief executive Greg Lowe puts it, is to ensure the New Zealand-founded multinational “can operate more effectively as a single enterprise, rather than as a series of country operations.” The changing face of Beca – not to mention leading the charge to a more collaborative future – is represented by newly appointed New Zealand managing director Darryl-Lee Wendelborn.
The election choices for this year are narrowing down – and looking a bit less palatable than usual, political editor Rob Hosking writes. “On the one hand is a government risking becoming complacent to the point of arrogance (Exhibit A: Transport minister Simon Bridges – pictured). On the other, the opposition appears to have adopted stupidity and mean-spiritedness as a strategy (Exhibit B: the reaction to John Key’s knighthood).”
Are the equity crowdfunding regulations too light-handed? In Shoeshine, Callida Smylie points out the much tighter rules in the US and asks whether New Zealand needs to tighten them.
All this and more in today's NBR Print edition. Out now.