Rules and Guidance Consultations

This page includes details of market developments and consultations undertaken by NZX on the NZX rule sets.

Should you wish to receive updates on policy related matters, please email us at policy@nzx.com with your request to be added to our mailing list.

This page was last updated on 6 March 2026.

Listing Guidance - Spread and Reverse Listings

NZX is consulting on amendments to the Spread Guidance Note and the Backdoor and Reverse Listing Guidance Note (Reverse Listing Guidance Note) that provide guidance to candidates for listing.

NZX is proposing changes to the Spread Guidance Note to provide further flexibility in the manner in which an applicant seeking to list on NZX can satisfy the NZX Listing Rule requirement to have sufficient spread upon listing.

NZX is proposing changes to the Reverse Listing Guidance Note to align with recent legislative amendments in relation to prospective financial information, as well as changes in relation to the availability of the QFP regime for reverse listings.

Additionally, the consultation seeks feedback more generally on availability of the QFP regime for direct listing applicants, to support the development of a Direct Listing Guidance Note.

The consultation paper, along with exposure drafts of each Guidance Note are available below:

We invite interested parties to provide their views on the proposed amendments by emailing a written submission to policy@nzx.com. Alternatively, please get in contact with us to provide a verbal submission. Please note the final date for submissions is Friday 3 April 2026.