Number of NZX-Listed Companies to Shrink

The number of companies listed on the New Zealand sharemarket will continue to shrink this year, according a forecast on the capital markets. Law firm Chapman Tripp has released a trends and insights report on New Zealand's Equity Markets and is predicting more departures from the NZX and just three new companies to list - a number in line with previous years, The New Zealand Herald reported. Rachel Dunne, a partner at Chapman Tripp, said the drop in the number of listed companies seen in 2016 was likely to continue this year with two insolvent companies expected to de-list and a number of others reported to be facing tough times ahead. "Former sharemarket darlings, Wynyard Group and Pumpkin Patch, hit black ice last year and are likely to be delisted this year. "Further insolvencies are also on the cards with the media reporting tough trading conditions ahead for some issuers," she said. Read more.