Addition of 30 Firms Doubles Number of NSX Members
The National Stock Exchange of Australia (NSX) added 29 companies to its listing on Tuesday, doubling the total number of members to 62.
The addition is the result of the winding down of the Bendigo Stock Exchange following its acquisition by NSX in 2005.
Of the 29 companies, 26 are community banks, two property trusts and the Bendigo Community Telco. Five firms which used to belong to Bendigo will delist by June 30, while four members are still studying their options.
The NSX also hosts the Australian Small Scale Offerings Board which assists unlisted firms that enjoy high growth to raise capital.
Among the large companies listed on the NSX are Ricegrowers, Australian United Retailers and African Petroleum.
"We are very pleased that most of BSX companies will be migrating to NSX and that two-thirds have decided to move at the first migration date. The migrating BSX companies will enjoy more prominence and investor interest being listed on the NSX. They are joining a growing list of companies realising the benefits and attractiveness of an NSX listing," NSX Chief Executive Officer Emlyn Scott said in a statement.
The NSX is Australia's second largest listing stock exchange next to the Australian Stock Exchange. It has 120 securities listed on the market whose combined market capitalisation is over $2.5 billion. NSX counts 18 participating brokers and 32 nominated adviser firms.
The growth of NSX members comes on the operation of the Chi-X which is backed by Japanese investment bank Nomura.
