Minister of
Commerce 29 September 2014 Media Statement
Minister welcomes NZX growth market
approval
Commerce Minister Craig Foss today
welcomed the Financial Markets Authority (FMA) approval of
new rules for NZX’s growth market.
Mr Foss granted an
exemption in July to allow the new growth market to operate
with an alternative disclosure regime.
“I am pleased to
see the rules have now been formally approved by the FMA.
The aim is to reduce the barriers to capital-raising for New
Zealand’s smaller and high-growth businesses and provide
new opportunities for investors,” Mr Foss says.
“The
new market will have additional features such as a research
provision, market-making services and the support of a
dedicated sponsor.
“Encouraging new public growth
markets is part of the Government’s Business Growth
Agenda. The NZX growth market complements our comprehensive
work programme to build high-performing capital markets and
enable New Zealand businesses to seize opportunities at home
and
abroad.”
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