Business

Retrospective NZX rules change hurts Vital Healthcare investors

Changes to NZX listing rules exempting managed investment structures (MIS) from many of the rules that apply to other listed entities is an example of well-intentioned changes that may have unintended or unforeseen consequences for investors, says New Zealand Shareholders’ Association chair John Hawkins.

The new exemptions are particularly egregious when applied retrospectively to listed entities such as Vital Healthcare Property Trust, which has been listed on the NZX since 1999.

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