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:

Ross McEwan to take helm at NAB
KPMG says bank capital proposals will wreck havoc on dairy farmers
Mild weather saps Vector's June-qtr volumes
NZ dollar gains as dovish Fed comments point to 50-bps US cut
19th July 2019 Morning Report
RBNZ says no change in approach on Resolution Life's AMP purchase
MARKET CLOSE: NZX50 hits record as yield stocks remain in vogue
NZ dollar mixed after strong Australian employment data
Energy efficiency key to lowering cost of renewables push - EECA
Paper recycling costs rising 35% as export markets collapse

IRG See IRG research reports