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NZX drops

By Duncan Brdigeman

Friday 10th October 2003

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New Zealand Exchange shares dropped back below their listing price yesterday following September operating statistics that showed a 44% decrease in trading values.

At press time yesterday NZX shares had dropped 11c, or 2.6%, to $4.20 following a 9c fall on Wednesday. The company listed on its own board in June at $4.30 a share, beating market expectations.

NZX said on Wednesday the value of equity trades, including rights trading, was $1.85 billion for last month compared with $3.32 billion in the same month last year.

However, the figure was above the 12-month average of $1.64 billion and total market capitalisation was 11.9% higher than in September 2002.

Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond

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