NZX capital raising up, value traded down

By NZPA

Tuesday 3rd July 2007

Sharemarket operator New Zealand Exchange Ltd (NZX) is reporting strong growth in first half capital raising but declines in the total value traded.

Average daily trades at 2512 in the first half of 2007, compared with 2442 in the first half of 2006, while the number of total trades was up 3% at 309,010, NZX said.

Total value traded in the first half of 2007 fell 9% to $16.85 billion, while the average daily value traded of $137 million for the first half of 2007, compared with $151 million for the first half of 2006.

On the NZSX, the total number of trades rose 4% to 292,052 for the first half of 2007, while total value traded on the NZSX dropped 7% to $16.18 billion.

On the NZAX alternative market, the total number of trades dropped 24% in the first half to 3259. Total value traded on the NZAX was $23 million.

Total number of trades for the NZDX was 13,699 for the first half of 2007, with the total value traded on the NZDX at $648 million.

New equity raised in the first half of 2007 was $1.49 billion and new debt raised was $1.16 billion, lifting total capital raised in the first half of 2007 by 28% to $2.65 billion from $2 billion in the first half of 2006.

NZX shares were up 5c to $11.65 around mid-afternoon today.

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