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Steve
17-06-2009, 06:22 PM
So any ideas what NZX will do with the proceeds of the rights issue now?

NZX withdraws offer for Australian firm (http://www.stuff.co.nz/business/2509676/NZX-withdraws-offer-for-Australian-firm)
NZX, operator of the New Zealand sharemarket, has withdrawn a bid to buy a controlling stake in a small Australian market operator.

macduffy
17-06-2009, 07:59 PM
So any ideas what NZX will do with the proceeds of the rights issue now?

NZX withdraws offer for Australian firm (http://www.stuff.co.nz/business/2509676/NZX-withdraws-offer-for-Australian-firm)
NZX, operator of the New Zealand sharemarket, has withdrawn a bid to buy a controlling stake in a small Australian market operator.

Perhaps buy up some more farming journals?
Are there any left?

;)

Dr_Who
18-06-2009, 07:24 AM
NZX is up 9.59% and ASX up 13.4% in 3 mths and Kiwisaver funds only managed 4.86% before all the huge fees.

So, can someone tell me again why one should invest in managed funds?

http://www.biggie.co.nz/interaction/forum/images/smiles/bluelaugh.gif

macduffy
18-06-2009, 07:50 AM
NZX is up 9.59% and ASX up 13.4% in 3 mths and Kiwisaver funds only managed 4.86% before all the huge fees.

So, can someone tell me again why one should invest in managed funds?

http://www.biggie.co.nz/interaction/forum/images/smiles/bluelaugh.gif

I think you're asking the wrong people here, doc!

:D

PartTimeTrader
18-06-2009, 08:20 AM
I do it because my employer matches my contribution 1 for 1 and you get the tax credit (an instant 100%+ ROI). Even those monkeys managing the funds would have a hard time screwing that up. But if I had to invest any additional dollars not matched by employer / tax credit then hell no investing in Kiwi saver would just be stupid.

upside_umop
18-06-2009, 08:32 AM
NZX is up 9.59% and ASX up 13.4% in 3 mths and Kiwisaver funds only managed 4.86% before all the huge fees.

So, can someone tell me again why one should invest in managed funds?

http://www.biggie.co.nz/interaction/forum/images/smiles/bluelaugh.gif

Then again, managed funds werent down 50% last year though were they?

You always say how boring the NZX is too..look at comparative performance over the last year and you will understand why it hasnt rebounded quite as much as the asx. Of course, you were out of the ASX all together last year right? Didnt take any losses and have only made gains this year. Yeah right.

http://ichart.finance.yahoo.com/z?s=%5EAORD&t=1y&q=l&l=on&z=m&c=%5ENZ50&a=v&p=s

Anyway, the thread can now get back to the original topic of the listed company 'NZX.'

BRICKS
31-03-2010, 05:34 PM
BRICKS is looking at NZX..

Sideshow Bob
31-03-2010, 06:54 PM
Excellent!!!

BRICKS
01-04-2010, 09:35 AM
Excellent!!!

SIDESHOW BOB the APRIL FOOL..

gonzo56
06-07-2010, 09:55 AM
Looking like a good time to buy today? What do you think, back to $2 in a month..

Update:
Ok, not according to the NZSX50 Index chart from Phaedrus.

Balance
08-07-2011, 04:30 PM
What has Mr Weldon been up to?

Sold 2m NZX shares on 24 June 2011 after NZX has been announcing everything going swimming well in its businesses.

In fact, its annual report stated that "Clear was “demonstrating real momentum, with trading currently tracking at four times the levels reached in the previous harvest.”

Now we find NZX admitting that Clear Grain Exchange trading business has not been going well, NZX has withheld payments etc.

Not really kosher, is it?

Balance
08-07-2011, 04:32 PM
http://www.nzx.com/markets/NZSX/NZX/announcements/5257760/NZX-update-2

Damage control?

NZSilver
11-01-2013, 12:55 PM
Not many posts on NZX recently, I was just thinking about this stock; increased trading on the markets, kiwisaver $$$ coming in, low interest rates so stocks looking more attractive, potentially net new listings (unless there are more takeovers/DIL on NASDAQ), goverment SOE floating possible, FSF listed, December trading volumes up, fiscal cliff died away untill next time someone has a freak out. But will this mean increased revenues and more importantly profits?

noodles
11-01-2013, 03:00 PM
Not many posts on NZX recently, I was just thinking about this stock; increased trading on the markets, kiwisaver $$$ coming in, low interest rates so stocks looking more attractive, potentially net new listings (unless there are more takeovers/DIL on NASDAQ), goverment SOE floating possible, FSF listed, December trading volumes up, fiscal cliff died away untill next time someone has a freak out. But will this mean increased revenues and more importantly profits?

With a pe ratio in the 20's, one could argue all those positive factors are priced in?

Lizard
16-08-2013, 04:29 PM
Is there another NZX thread somewhere for the shares? It's a trickier one to search on.

I've bought a few in the dip at $1.30 recently, thinking that these IPO's should all be good for the bottom line. Has ticked up recently, so am looking forward to the results and outlook. Seems like it should have some growth stock characteristics with dairy futures and new listings?

Under Surveillance
16-08-2013, 08:42 PM
Try "NZX - What a joke". It tends to act as a lightning rod for those frustrated by the way the NZSE behaves, rather than for groupies holding NZX to encourage each other. I hold, and think it is more than fully priced, perhaps 12-18 months ahead of itself, but I'll be happy if I find I'm wrong come 26 August

brevos
19-08-2013, 08:00 AM
Thoughts on NZX's FY result? Revenue up 14%, EBITDA up 26%....looks like a strong result...

Under Surveillance
19-08-2013, 08:10 AM
Thoughts on NZX's FY result? Revenue up 14%, EBITDA up 26%....looks like a strong result...

Very strong. NPAT is double that of H1 2012. Is curious that the announcement blurb avoids mention of this.

forest
19-08-2013, 08:11 AM
Thoughts on NZX's FY result? Revenue up 14%, EBITDA up 26%....looks like a strong result...

Outlook is also positive. Agri has lots of potential to improve.

Balance
19-08-2013, 09:11 AM
Very strong. NPAT is double that of H1 2012. Is curious that the announcement blurb avoids mention of this.


What you read from NZX is always PR-speak - never the real picture.

https://www.nzx.com/files/attachments/179920.pdf

Look closer through the numbers and the release though and here's the real picture - NZX is running faster just to keep still!

https://www.nzx.com/files/attachments/179921.pdf

Excerpt from 2012 H1 results release :

"Expenses rose from $14.5 million to $16.9 million. This includes $2.0 million of costs associated with
the CEO transition, other non-recurring items and the Ralec litigation. In
addition, capitalisation of staff costs decreased by $1.1 million over PCP as
a number of projects moved from development to operation. As a result, EBITDAF was down 18% to $9.57 million, and NPAT fell 28% to
$3.25 million."

So, NZX was*saying last year that its underlying profit before tax in 2012 was much better than the $5.35m reported.

Add back the $2.3m of one-off costs, and $1.5m of foreign exchange loss of $1.5m and underlying profit was actually $9.16m.

So that was last year's story - that everything was actually fine and wonderful under the new Great Helmsman after Mark 'raise monopoly charges until they squeal and then, get out fast' Weldon.

This year's PBT? $9.2m!

Costs are going up faster than revenues - not a good sign.

Under Surveillance
19-08-2013, 10:42 AM
Thanks, Balance. You've sated my curiosity, and tempered my early enthusiasm for the result!

Balance
19-08-2013, 11:16 AM
Headlines in the media :

"NZX doubles profits on IPOs and trading volumes' etc etc

Hogwash and the reporters swallow whole all in.

Lizard
19-08-2013, 12:06 PM
I think they will do quite well second half. Those IPO revenues come on very little cost and fall through to bottom line. Yes, NZX has invested in increased staffing, so the costs do need watching, but with Z Energy, Wynard, Synlait and very likely Meridian listing fees in second half, they should have a bumper FY.

On the downside, dividends will come under a payout ratio for 2014, so may see a fall if new listing activity does not continue apace - and yield on current 2013 forecast divs of 5.6cps is only 4%.

Lizard
19-08-2013, 12:53 PM
As an aside, one thing that would irritate me if I held any of the ETF's is that they appear to make profit out of ETF's by then lending out the shares held for shorting (page 21 of presentation). I guess given they are an unsentimental holder, then perhaps it makes sense. I am not entirely clear who gets the lending fees, as I should have thought they belonged to the fund holders rather than the manager (but I am thinking this is not actually the case?).

peat
19-08-2013, 01:07 PM
As an aside, one thing that would irritate me if I held any of the ETF's is that they appear to make profit out of ETF's by then lending out the shares held for shorting (page 21 of presentation). I guess given they are an unsentimental holder, then perhaps it makes sense. I am not entirely clear who gets the lending fees, as I should have thought they belonged to the fund holders rather than the manager (but I am thinking this is not actually the case?).
Liz the 2011 Annual report stated

The securities lending programme provides investors with additional income thereby increasing distribution payouts, without materially increasing the risk profile of the Funds
4729

Lizard
19-08-2013, 01:19 PM
Thanks peat - well that is good to know! The way it was referred to in the presentation made it sound like it was income to NZX and not clear that it goes back to funds/distributions. But seems all is fair :)

Lizard
15-10-2013, 03:56 PM
NZX is not cheap, but should be lining up for a bumper second half. So far, we have Synlait, Wynyard, Meridian, Z Energy primary listings and possibly some more to come. New listings have a major effect on bottom line.

Volume of trades is up over 24% yoy which should be reflected in trade fees. Derivatives (dairy) had a bumper few months this half, although grain trading has been weak.

One recent weak point has been the lack of debt issues, but there are new signs of possible bank bond issues emerging, along with a new Wellington Airport bond to be issued and listed this half that may re-fuel the NZDX.

Smartshares FUM continues to climb and the launch of new equity derivatives is in process.

The price of NZX shares has stagnated recently, as analysts considered the growth to be priced in and also noted the likelihood of a fall in dividend yield as the company returns to a "more normal" dividend policy. However, given the monopoly position and recent reported fee increases, this company should be a secure long term hold, so may be a good time to accumulate on weakness here at $1.28.

_Michael
15-10-2013, 07:00 PM
NZX is not cheap, but should be lining up for a bumper second half. So far, we have Synlait, Wynyard, Meridian, Z Energy primary listings and possibly some more to come. New listings have a major effect on bottom line.

Volume of trades is up over 24% yoy which should be reflected in trade fees. Derivatives (dairy) had a bumper few months this half, although grain trading has been weak.

One recent weak point has been the lack of debt issues, but there are new signs of possible bank bond issues emerging, along with a new Wellington Airport bond to be issued and listed this half that may re-fuel the NZDX.

Smartshares FUM continues to climb and the launch of new equity derivatives is in process.

The price of NZX shares has stagnated recently, as analysts considered the growth to be priced in and also noted the likelihood of a fall in dividend yield as the company returns to a "more normal" dividend policy. However, given the monopoly position and recent reported fee increases, this company should be a secure long term hold, so may be a good time to accumulate on weakness here at $1.28.

Yeah agree to some extent.

I have been holding this about five years and enjoyed many capital returns under the Mark Weldon model of running it lean.

My only reservation is the jury's out about new CEO.

Balance
08-11-2013, 04:28 PM
Rejoice, NZX shareholders, for NZX will forthwith make it easier for backdoor listings :

"Amendments have been made to Rules 6.1.2(e) and 7.1.1 so NZX approval is not
required for Offering Documents for offers of Securities not to be Quoted on
the Main Board or Debt Market."

Balance
08-11-2013, 09:58 PM
just in time for Mega/Baboom travesty, rejoice ;)

Can just see many punters reversing their backs towards the door.

Tim Bennett is following in the glorious path set by Mark Weldon.

:D

jonu
09-11-2013, 04:25 PM
seriously though, all the pieces are coming together for it. amazing how much politics goes on. would also hate to see how much funny money does as well...

Moosie, Moosie- you really do need to learn to temper your comments. We are not just the boys chatting in the pub here. I think anyone employed by NZX would take a pretty dim legal view of that last sentence.

blackcap
09-11-2013, 06:28 PM
Be careful Moose... taken from the Hot copper site.. I am not implying anything but just want you to be careful. Not that I disagree with your method of posting per se, but that law can be an ass as is commonly put.

What is defamatory?

A defamatory statement is one that would cause an ordinary person to think less of the person the statement is about.

You must consider the imputation conveyed by your posts, as that is what determines whether it is defamatory. Many statements can have a defamatory meaning beyond the exact words used.

Most commonly, a post will be defamatory because of what it implies or infers. The defamatory meaning is often insinuated and can often be read between the lines. This is more easily done when a post is derogatory.

Allegations and rumours — The report or repetition of an allegation or rumour may be defamatory. By posting the allegation or rumour you may give it credence and may imply that it is true. This may be so even if you simply state that you are only repeating the allegation or rumour.

Contradictions — If you attempt to qualify a potentially defamatory statement with a statement such as “but there is nothing to prove that it is true” – this will not necessarily prevent the statement from being defamatory. The court will look at the publication as a whole.

Humour — A post which is humorous can still be defamatory. It does not matter what you intend the words to mean, or that a post was intended only as a joke.

The following categories of defamatory imputations provide some guidance as to what may be defamatory:

allegations of criminality, including corruption, bribery or conspiracy;
dishonesty, deceitful conduct including stealing and fraud;
misconduct, misuse of position, abuse of office, unethical behaviour, conflicts of interest or bias; and
incompetence, unprofessional behaviour, negligence, inability to carry out one’s responsibilities with due care and skill.
Australia does not have the same tradition of free speech as there is in the United States. Plaintiffs can pursue technical causes of action for defamation, at the lower end of the scale, that are nevertheless very expensive for all parties concerned.

jonu
09-11-2013, 07:03 PM
Timely reminder Blackcap, thankyou.

CJ
09-11-2013, 07:44 PM
Rejoice, NZX shareholders, for NZX will forthwith make it easier for backdoor listings :

"Amendments have been made to Rules 6.1.2(e) and 7.1.1 so NZX approval is not
required for Offering Documents for offers of Securities not to be Quoted on
the Main Board or Debt Market."i assume this is part of their plan announced recently to make it easier for small companies to list. I wonder if it is in preparation of the new crowd funding rules.

For the small caps on the NZAX and not raising any new funds, why should they need offer docs. If you buy in before annual accounts are published, it's on your back.

janner
09-11-2013, 08:02 PM
Buyer beware eh !! CJ.

Balance
10-11-2013, 09:40 AM
posts removed, point taken. thanks :)

Funny money?

Hardly surprising if NZX allows the kind of backdoor listing like Plus*SMS and take no action whatsoever.

So, yes - there was funny money in the NZX.

Now, sue me, NZX.

I will show them funny money.

Balance
10-11-2013, 12:06 PM
NZX (and Mark Weldon) enabled crooks (Plus SMS, finance companies etc) to list in his domain, there was bugger all monitoring, the crooks ripped people off and NZX says it's all too bad for the investors - they should be more careful!

OK for NZX to earn millions of dollars of revenues from dealing with these scumbags, but not a cent spent on protecting investors.

And now, backdoor listings are still okay - they bring in the revenues and make NZX, its principal backers (like Forsyth Barr of Credit Sails fame) and CEOs wealthy.

Forget about protecting investors and putting in some basic preventive measures.

That's the quality of moral leadership showed by them.

Now sue me, NZX.