A provocative op-ed by a former NZX board member questions whether the NXT growth market has fulfilled its promise. Since its launch a decade ago, NXT was meant to be a stepping stone for SMEs to join the main board. However, the author notes that only 34% of NXT graduates have successfully uplisted, while others languish with illiquid trading.
In response, the NZX response team published a rebuttal letter in the same issue, pointing to recent rule changes allowing dual-class share structures and reduced compliance fees for NXT firms with revenues under $50m.
This debate is vital reading for any entrepreneur considering a public listing in New Zealand.
In a rare, unfiltered conversation, the CEO of NZX sits down with the magazine’s editorial board to discuss the future of the exchange.
Key revelations from Issue 101 include:
The CEO specifically addresses the "elephant in the room"—the decline in retail trading volume post-pandemic. The solution, according to the interview, lies in financial literacy, which the magazine supports via its "Schools of Investment" series. nzx magazine new zealand issue 101
Do not sell your NZX 50 core. Instead, do this with new contributions:
The cover of Issue 101 features a striking graphic of a compass superimposed over the Southern Alps, signalling the theme: Navigating Volatility.
The lead article argues that New Zealand equities are currently trading at a discount to their historical P/E averages. Unlike the exuberance seen in US tech stocks, the NZX 50 Gross Index has shown a "grind" recovery. Issue 101 posits that the divergence between GDP headwinds and corporate earnings (specifically from the dairy and logistics sectors) presents a unique entry point for long-term investors.
Senior analysts quoted in the magazine note that the market has already priced in a "hard landing" that has not yet materialized. For subscribers, the key takeaway is a shift in focus from growth-at-all-costs to dividend resilience—a theme echoed throughout the issue.
The back-page editorial (a prestigious spot in NZX Magazine) makes a radical proposal: the introduction of fractional ownership of NZX-listed real estate and fine wine (via the NZX Wine Index). A provocative op-ed by a former NZX board
The argument posits that with the median house price in Auckland still hovering near $1 million, the average renter cannot afford property diversification. The author suggests that the NZX should facilitate a "BrickX-style" platform for commercial property trusts (like Precinct Properties). This would allow subscribers to buy $50 slices of downtown office space. While speculative, this editorial has generated the most letters to the editor in Issue 101’s history, highlighting a demand for accessible assets.
Turn to page 42 of the latest NZX Companies Handbook. The "NZX 101 to 150" (the next 50 stocks by market cap) are the engine room of the real economy. These aren't speculative micro-caps; they are profitable, cash-flow-positive businesses that are simply too small for the big Australian fund managers to notice.
Three "Smarter 100" picks for Issue 101:
GREENFLEET (GFL) – Price: $1.12 | Yield: 0% (growth)
COOKS COFFEE (CCC) – Price: $0.89 | Yield: 6.2% (unimputed) In a rare, unfiltered conversation, the CEO of
Opening the pages of Issue 101, the first thing that strikes you is the visual tone. NZX has evolved from a utilitarian trade news sheet into a glossy, design-forward lifestyle-business hybrid.
The cover story of Issue 101 focuses on Resilience in the Supply Chain. It’s a topic that has been beaten to death in boardrooms, but NZX manages to freshen it up. Rather than focusing solely on shipping rates and container shortages (though those are present), the cover features a profile of a coastal shipping operator. The imagery moves away from stock photos of cargo ships and toward the gritty, salt-of-the-earth reality of the Kiwi maritime worker.
It sets the tone immediately: this is an industry built on people, not just spreadsheets.
The magazine also introduces a new quarterly feature called “NZX Insider Sentiment” – a proprietary survey of company directors on capital allocation plans.