NZX trading values, volumes fall in April
The company is forecasting ebitda between $27 million and $30 million in calendar 2017.
The value and volume of trading on New Zealand stock market operator NZX fell in April.
The volume of cash market trading fell 14 percent to 123,409 in April from the same month a year earlier, while the total value traded dropped 18 percent to $3.3 billion, Wellington-based NZX said in its monthly shareholder metrics.
The volume of equity transactions slid 14 percent to 120,641 and the value of those trades fell 19 percent to $3.2 billion. The number of equity securities on the market was down 2.9 percent to 166 in April compared with the same month a year earlier.
Meanwhile, the volume of debt transactions dropped 14 percent to 2,768 while the value traded edged up 1.3 percent to $176 million. The number of debt securities on the market jumped 22 percent to 111 compared with the year earlier as the debt market proved a popular avenue for firms to raise funds over the past year as low interest rates provide cheap finance on bond issues.
NZX last month appointed Mark Peterson as chief executive and tasked him with growing the business to compete more effectively on the domestic and international fronts. Peterson had been acting CEO since Tim Bennett departed at the end of last year, and was previously NZX's head of markets.
The company is forecasting earnings before interest, tax, depreciation and amortisation of between $27 million and $30 million in calendar 2017, depending on the level of initial public offerings, secondary capital raisings, and trading and clearing volumes across its various markets.That would be up from $22.5 million last year.
The stock market will welcome its first initial public offering at the end of this week when aged care operator Oceania Healthcare joins the bourse, having raised $200 million.
Shares of NZX last traded at $1.06 and have gained 11 percent in the past year.
(BusinessDesk)
Tina Morrison
Wed, 03 May 2017
Wed, 03 May 2017
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Free News Alerts
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
Free News Alerts
Sign up to get the latest stories and insights delivered to your inbox – free, every day.
NZX trading values, volumes fall in April
66685