Why NZX boss Mark Weldon should be smiling

Written By: - Date published: 9:16 pm, September 3rd, 2011 - 9 comments
Categories: uncategorized - Tags:

That was the teaser line on the front page of today’s Herald Business section for this article by Liam Dann. NZX is the big winner among listed companies this year according to Bloomberg – 56% up on the year. Why? Asset sales. That’s why NZX shares have gone up this year, as Dann says. Prime Minister John Key revealed National’s plan to sell our assets in January.  January is when NZX shares started their rise.

Here’s the NZX share price movement for the year:

Mark Weldon has been pushing for asset sales for some time. He owns more than 6 million NZX shares. No wonder Weldon is smiling – that’s not a bad capital gain of $6million dollars in nine months.

He is one Dad who has already done very well out of asset sales, and just on his mate John Key’s promise.

9 comments on “Why NZX boss Mark Weldon should be smiling ”

  1. Dv 1

    How much did he raise from the rich listers for the earthquke fund?

  2. Afewknowthetruth 2

    Weldon won’t be smiling for long.

    The NZX is already well down from peak (and compared to gold shares have lost half their value over the past 4 years).

    The next round of collapse is coming fast.

    http://au.finance.yahoo.com/news/World-Bank-chief-warns-danger-aap-829028951.html;_ylt=A0PDkwfh_2FOcrkA9gPCWo9G;_ylu=X3oDMTE4OGloZ2ZuBHBvcwMzBHNlYwN5ZmlUb3BTdG9yaWVzBHNsawN3b3JsZGJhbmtjaGk-?x=0

  3. hoom 3

    I just can’t understand the logic of having the stock exchange be a listed company rather than an independant non-profit and neutral, maybe government owned organisation.

    Imagine if stocks & controlling stakes in political parties could be bought & sold so easily.
    Oh… wait <_<

    Even more bizzare is for the exchange itself to be a star player!
    Its the ultimate symptom that far too many previously listed companies have been taken over & delisted by foreign capital for a quick buck.

  4. The Chairman 4

    The enemy within?

    Who in Labour decided to place him on the committee that recommended asset sales?

  5. tc 5

    Weldon is a wannabe hollow man, fn useless at policing the market to provide integrity for smaller investors cause he’s had dipster to blame…..smarmy self serving and quietly been hovering up rural publications who have been vocally opposed to Fonterra listing on the NZX.

    And yes how much did he raise for CHCH? Well of course any dosh raised by the likes of goldman Sachs etc could be considered a joining fee to participate in sideshows great NZ fire sale….banks being charitable, watch your back.

  6. MIrranda 6

    If NZX the company did not make a bit of money it would have to be run by the Aussies – and it has not made money out of running the sharemarket. I am a shareholder, and the worst part of the business is the sharemarket – if they could get out of that, I am sure they would – but the government controls a veto on the sale of that. The rest of the business has been the part that has grown.

  7. Colonial Viper 7

    World financial markets are no longer impartial gathering places for the fair buying and selling of securities.

    Today they are market manipulators (or complicit with market manipulators) and run by big money for big money.

    Underlying all of this though is the sad truth that NZ does not back small enterprise with investment and investment capital; growing SMEs see it pointless as listing on the NZX; selling out to overseas private capital (e.g. TradeMe, Charlie’s) is far more attractive.

  8. Jane 8

    Colonial Viper …. funny, innacurate comment…..Charlies was listed, and got bought out at huge value (like 42 Below, etc). They would never have got this money privately. TradeMe sold privately…for $270m? I bet they come back and list at worth more than a billion when Fairfax sell 35%.

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