NZX directors should be toasting Napier Port with French champagne following the release of the company's IPO documents this week.

After the embarrassing Cannasouth IPO last month, the exchange's first IPO in two years, the domestic sharemarket can finally welcome a company with a genuine business model and positive earnings.

The big questions are: will there be many shares available for New Zealand investors and will the new listing be as successful as Port of Tauranga?

New Zealand has 10 major ports, with Port of Tauranga being the largest and Ports of Auckland in second place but falling further and

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