NZX - NZ Exchange

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they appear to be constantly creating alternate sources of profit anyway.

such as? ?

[simla]

Funds Management, Dairy Derivatives, Agri, Wealth Technologies, and now talk of environmental and energy markets. Sure, these are presented as being related the core business but it would not be hard to transition them elsewhere too.

I don't remember any of that stuff being part of the NZX 20 years ago. The ETFs alone are a pretty proactive development.

I'm not trying to comment on the history of the NZX. Merely pointing out that they are also pursing an active strategy for the future.

[Balance]

Funds Management, Dairy Derivatives, Agri, Wealth Technologies, and now talk of environmental and energy markets. Sure, these are presented as being related the core business but it would not be hard to transition them elsewhere too.

I don't remember any of that stuff being part of the NZX 20 years ago. The ETFs alone are a pretty proactive development.

I'm not trying to comment on the history of the NZX. Merely pointing out that they are also pursing an active strategy for the future.

You mean like Clear Grain?

Beauty of the NZX reward structure for management is that there is zero penalty for bad strategic investments and initiatives - only ever upside. Weldon was rewarded with a whole pile of options for screwing up NZX's core business through gross mismanagement & costing the NZX big $$$ (est $25m) for Clear Grain, and Tim Bennett was rewarded despite NZX's sp going backwards during his tenure.

Meanwhile, the core business of NZX is going backwards and all the peripheral businesses being developed are not going to replace and offset the backward slide of the core business.

Wait for the reaction to ATM decamping like Xero to ASX.

Anyone see any multi-billion dollar listings anytime soon in the next 3 years wanting to list on this miserable exchange of low liquidity and minimal analysts and brokers support of existing listed stocks?

I have already commented but it is worthwhile highlighting again that for all of NZX's talk of cost control and business growth, all of its so called profit growth in the last year came from one-offs.

[peat]

Funds Management, Dairy Derivatives, Agri, Wealth Technologies, and now talk of environmental and energy markets.

But they are all so trivial financially, and yes some of them might develop, but they will have to - a lot - to become meaningful.
Thats my view in any case.

[bull....]

once a ponna time you used to get companies falling over them selves to list when in midst of a bull market , dont know why its not happening this time ? something very wrong ?

anyway the market doesnt think much of there strategy share price has been down ever since they announced it and i see a big share holder has been selling too , not surprised being top of the cycle with minimal growth ahead if that .

[simla]

Thanks for the feedback. I agree that the market itself is in a challenging situation but I am trying to figure whether the share price itself is oversold because of sentiment about the market and the history rather than the company itself, given that the company is not lacking in energy and is constantly looking for new ideas. It certainly is a somewhat unique company and very hard (for me anyway) to know what a good share price could be for it. So thanks for the feedback.

[Balance]

Thanks for the feedback. I agree that the market itself is in a challenging situation but I am trying to figure whether the share price itself is oversold because of sentiment about the market and the history rather than the company itself, given that the company is not lacking in energy and is constantly looking for new ideas. It certainly is a somewhat unique company and very hard (for me anyway) to know what a good share price could be for it. So thanks for the feedback.

Not trying to tell you how to suck eggs but first step would be by evaluating its investment fundamentals - enterprise multiple vs other stock exchanges?

NZX has been looking for new ideas for a long long time - that's different from actually being able to find one which can go anywhere towards supplementing the non-growth in its core operations.

Remember NXT? Years of consultations and analysis and NZX came out with a dead duck! And it tried to kill off the NZAX by increasing charges several fold - then backed down.

You really have to laugh at these idiots running the exchange.

I was actually hoping the exchange would come up with some radical ideas to turn around market sentiment and have New Zealanders embrace our stock market.

Alas, so far it's the same old platitudes with the clowns running around in circles without addressing the elephant in the room - NZX charges too much for the rapidly deteriorating services it provides and puts bugger all back into the market.

[bull....]

Alas, so far it's the same old platitudes with the clowns running around in circles without addressing the elephant in the room - NZX charges too much for the rapidly deteriorating services it provides and puts bugger all back into the market.

doesnt sky tv run the same model lol

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doesnt sky tv run the same model lol

Best analogy possible!

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See NBR headline : "Restive NZX shareholders are talking merger again'?

Now isn't that rich?

The very same shareholders (like I assume, Brian Gaynor and Forsyth Barr) who believed it was the right thing to reject the overtures from the ASX re a merger or takeover when NZX was demutualised (and praised Weldon as the messiah whose backside farted sunshine) are now wanting a merger?

All too late really - NZX is now irrelevant as companies are choosing to list on ASX or decamp to ASX on their own accord.

Only listings via backdoor vehicles and private equity sell downs (Wynyard, Intueri, Tegel, Veritas, Orion Healthcare woof woof etc etc etc) to look forward to with NZX.