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Tuesday, 2 November 2010

Weldon: float the SOEs

Mark Weldon of NZX has a well yes he would say that moment:
Government decisions on privatisation of state-owned companies are a key part of “ability for the capital markets to keep working in New Zealand,” says NZX Ltd. chief executive Mark Weldon.
Commenting in the wake of the Singapore stock exchange operator, SGX’s, A$8.4 billion takeover bid for its Australian counterpart, ASX, Weldon said there was still a role for a local share market both because local companies will want a domestic venue for capital-raising, and because global players won’t pursue small and mid-sized opportunities.
Weldon does have a very good point. As the Capital Markets Development Taskforce has reported, our government holds $25 billion of taxpayer funds in state owned enterprises, including Air New Zealand which is partially listed.