Flying the nest: an analysis of Kiwi firms delisting from the NZX

Recent commentary has suggested an increasing trend in delistings from the NZX, driven by offshore takeovers. However, some of that commentary has been driven by anecdotal evidence. In order to shed light on this discussion, we examine the extent and nature of delisting activity over the past 15 years. Our results indicate no increase in offshore takeovers, with well under half of the delistings in the sample period the result of foreign takeovers.