NZX trading activity lifts in August, bolstered by small trades
NZX trading activity rose in August, once again lifted by a strong rise in activity by smaller investors.
The volume of cash trades on the NZX rose 19% to 179,530 versus the same month a year earlier while the total value traded rose 3% to $4.2 billion, Wellington-based NZX said in its monthly shareholder metrics. The number of trades worth less than $50,000 increased 21% to 170,046, accounting for 95% of the total volume. The daily average traded was $181 million.
No new capital was raised through IPOs or compliance listings or new debt listings in the month.
A total of $243 million was raised by existing issuers across 19 events in August, including $83 million of equity from primary issuers, $39 million from dual and secondary issuers and $121 in debt.
The benchmark S&P/NZX 50 Index was 5.6% higher in August on the year, closing at 7817.
Earlier this month, the market operator said it more than doubled first-half profit though revenue dipped slightly, with operating expenses falling after it streamlined operations as it seeks to focus its business. Net profit rose to $7.95 million in the six months ended June 30 from $3.58 million a year earlier, the market operator said in a statement.
It is reviewing its business and the results are due in November, with NZX mulling class waivers for stocks listed on its NZAX and NXT small-cap markets as part of a likely consolidation into the main board.
NZX shares last traded at $1.15, and have gained 18% over the past 12 months.