Listing Requirements

What securities qualify to list on NZDX?

The companies listed on the New Zealand market cover a range of industries, sizes and stages of development.

Unlike some overseas exchanges, NZX does not apply prescribed eligibility criteria based on profit, working capital or net tangible assets. There are some eligibility criteria set out in the rules, and during the listing process, NZX Regulation may impose further requirements, or waive certain requirements, at its discretion.

The requirements below are set out in the Listing Rules dated 10 December 2020. A link to the rules can be found here.

Rule	NZDX
Market capitalisation	At least $10 million
Investor Spread	However, No spread requirement No free float requirement
Ongoing Reporting	Issuers are required to release financial statements on a full and half year basis. New Zealand uses a continuous disclosure regime to ensure the market is kept informed. NZ RegCo can provide support and training to new issuers and their officers and directors.
Trust deed	Issuer trust deeds are subject to prescribed content requirements, which can be either set out in the Trust Deed or incorporated by reference
Corporate governance	If a prospective issuer is listing debt only, it is exempt from the corporate governance requirements