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.”