Catalist - Unlisted competitor?

https://www.stuff.co.nz/business/prosper/125393428/stock-exchange-for-smaller-companies-aims-to-fill-huge-gap

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A stock exchange for smaller companies has been granted permission to launch.

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Catalist​ was designed to fill a “huge gap” in New Zealand’s capital markets, said chief executive Colin Magee.
For while New Zealand already had a share market, the NZX was only economic for larger companies, not the high-potential smaller companies Catalist would be trying to attract with an initial value of $6million to $60m, he said.

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Of particular note for me, is the idea of having the occaisional auction instead of 'continuous' trading.

No developments on their website, and nothing being traded.