Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search


First Chance To Invest On Newcastle Exchange

May 17 2004

First Chance To Invest On Newcastle Exchange

New Zealander’s have their first chance to invest directly in a company that will be listed on the Australian-based Newcastle Stock Exchange (NSX). Illuminator Investment Company (IIC) has registered a New Zealand prospectus and is looking for local interest in its investment fund.

IIC is raising up to AUS$15 million, predominantly from Australian investors, but has regulatory approval to become the first NSX listed company to actively seek investment by New Zealanders.

Steven Pritchard, Executive Chairman at IIC, believes the unique nature of the company and the exchange may appeal to New Zealand investors.

“In the last few years we have seen a lot of Australian and New Zealand companies cross-listing on exchanges on either side of the Tasman. The NSX is an exchange growing in reputation as a platform for small to medium size innovative enterprises and IIC hopes to benefit from this.

“Investors get all of the regulatory benefits of a publicly listed company without the same impact on fund performance of the higher compliance costs associated with listings on the main exchanges.

“IIC will be offering investors an investment philosophy which will look to invest in entities we believe are undervalued and offer good dividend yield. We will look to medium to long term investment predominantly in Australian companies, trusts and interest bearing securities that we believe have merit, uncorrelated to market movements and economic trends.”

The NSX has modelled itself on the AIM and TechMARK exchanges in the United Kingdom and caters for niche markets. It targets small to medium, innovative enterprises, looking to raise capital and transact on a market that is efficient, simple and user friendly.

IIC has produced a New Zealand prospectus in accordance with the Securities Act (Australian Issuers) Exemption Notice 2002, and this can be viewed at Local contacts for the fund are Direct Broking Ltd (Auckland) and Gould Steel (Wellington).


© Scoop Media

Business Headlines | Sci-Tech Headlines


I Sing The Highway Electric: Charge Net NZ To Connect New Zealand

BMW is turning Middle Earth electric after today announcing a substantial contribution to the charging network Charge Net NZ. This landmark partnership will enable Kiwis to drive their electric vehicles (EVs) right across New Zealand through the installation of a fast charging highway stretching from Kaitaia to Invercargill. More>>


Watch This Space: Mahia Rocket Lab Launch Site Officially Opened

Economic Development Minster Steven Joyce today opened New Zealand’s first orbital launch site, Rocket Lab Launch Complex 1, on the Mahia Peninsula on the North Island’s east coast. More>>


Marketing Rocks!
Ig Nobel Award Winners Assess The Personality Of Rocks

A Massey University marketing lecturer has received the 2016 Ig Nobel Prize for economics for a research project that asked university students to describe the “brand personalities” of three rocks. More>>


Nurofen Promotion: Reckitt Benckiser To Plead Guilty To Misleading Ads

Reckitt Benckiser (New Zealand) intends to plead guilty to charges of misleading consumers over the way it promoted a range of Nurofen products, the Commerce Commission says. More>>


Half A Billion Accounts, Including Xtra: Yahoo Confirms Huge Data Breach

The account information may have included names, email addresses, telephone numbers, dates of birth, hashed passwords (the vast majority with bcrypt) and, in some cases, encrypted or unencrypted security questions and answers. More>>


Rural Branches: Westpac To Close 19 Branches, ANZ Looks At 7

Westpac confirms it will close nineteen branches across the country; ANZ closes its Ngaruawahia branch and is consulting on plans to close six more branches; The bank workers union says many of its members are nervous about their futures and asking ... More>>

Interest Rates: RBNZ's Wheeler Keeps OCR At 2%

Reserve Bank governor Graeme Wheeler kept the official cash rate at 2 percent and said more easing will be needed to get inflation back within the target band. More>>


Get More From Scoop

Search Scoop  
Powered by Vodafone
NZ independent news