Sharechat Logo

NZX says it doesn't know why shares have declined

Friday 24th October 2014

Text too small?

NZX, the stock market operator, said it doesn't know why its share price has declined, in response to a query from its disciplinary arm.

The New Zealand Markets Disciplinary Tribunal special division was alerted on Oct. 17 when shares of NZX fell 8.7 percent over 20 days to $1.16 from $1.27. The share price fell further to close at a two-year low of $1.14 on Oct. 20, which is 17 percent below its June 20 close of $1.38, special division chairman Andrew Beck said in a query to the NZX.

"We are aware of no specific reasons for the price decline," NZX chief financial officer Bevan Miller said in a statement responding to the query. He said the NZX had complied with listing rules requiring the timely disclosure of material information.

Shares in Wellington-based NZX gained 0.9 percent to $1.16 and have shed 7.3 percent so far this year.

 

 

 

 

BusinessDesk.co.nz



  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Related News:

NZ dollar stalled amid ongoing coronavirus concern
Member growth delivers healthy results for nib New Zealand
The Australian Dollar Nears a Tipping Point Thanks to Ultra-Low Rates
With Gold Surging, Miners Face Payouts Versus Production Dilemma
24th February 2020 Morning Report
U.S. Dollar Nears a Critical Level That May Trigger a Buying Spree
21st February 2020 Morning Report
Tech Leads Stocks Lower on Virus Fears; Gold Gains
NZ dollar falls on disappointment over Chinese stimulus
Qantas Axes Flights Across Asia as Virus Scares Off Flyers

IRG See IRG research reports