COMMENT:

The NZX will be in the spotlight over the next few weeks as the domestic stock exchange celebrates its 150th anniversary and the Capital Markets 2029 Steering Committee releases its report.

Once again, there will be a great deal of focus on the paucity of domestic initial public offerings, but emphasis should also be placed on the large number of delistings, particularly following successful bids from foreign buyers.

There have been only six IPOs since the beginning of 2016 — Tegel, Investore Property, New Zealand King Salmon, Oceania Healthcare, Cannasouth and Napier Port — compared with over 30 delistings.

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