You might be surprised to learn that around 60 of the NZX listed company also have a float on the ASX. That was more than a third of New Zealand’s entire stock market represented across the Tasman. Some of these dual-listed companies are very popular – Air New Zealand and Auckland Airport for instance, but others might not be as well known.
If you are an investor interested in NZX stocks or you are just wondering which NZX stocks are also listed on ASX, here are four NZX companies that you may not know are also ASX listed.
Ventia Services Group
Ventia Services is a name you might associate with infrastructure maintenance, but did you know it’s dual-listed on both the ASX and NZX? Ventia specializes in providing essential maintenance services to infrastructure across four main sectors:
Defence and Social Infrastructure
Utilities (water and electricity)
Telecommunications
Transport
The company operates in a high-growth market. The infrastructure services sector is estimated to grow from $62 billion to $76.2 billion by FY25, representing a compound annual growth rate (CAGR) of 5.5%. Ventia listed on the ASX at $1.70 and has since climbed to $3 per share.
Although headquartered in Australia, Ventia’s significant business operations in New Zealand make its NZX listing logical. However, with lower trading volumes on the NZX, many investors might overlook this dual listing.
Fisher & Paykel Healthcare
Fisher & Paykel Healthcare is a name that resonates with many Kiwis, but younger investors might not know the company’s full history. Originally based in New Zealand and known for home appliances, the company pivoted entirely to healthcare in the 1960s, splitting off its appliances division.
Today, Fisher & Paykel Healthcare focuses on innovative respiratory and sleep apnea solutions. Despite its New Zealand origins, 75% of its revenue now comes from North America and Europe. While its ASX listing makes sense for global exposure, the company retains its Kiwi roots with assembly and testing facilities in New Zealand.
Australian Foundation Investment Company (AFIC)
The Australian Foundation Investment Company (AFIC) might not be a household name among casual investors, especially given the limited attention on Listed Investment Companies (LICs). But what makes this dual-listed LIC intriguing is its diverse Oceania-focused portfolio.
AFIC manages a portfolio worth A$8.9 billion, investing across various sectors. However, its performance has lagged behind the ASX 200 index, with a 13.9% return over the past year compared to the index’s 16.6%. This underperformance is attributed to its limited exposure to resource stocks, which were key drivers of the ASX 200’s gains.
Despite this, AFIC offers a consistent dividend yield of 3.5%, which may appeal to income-focused investors. Its NZX listing provides New Zealand investors access to one of Australia’s largest LICs, albeit with limited trading activity.
Tourism Holdings Limited (THL)
Tourism Holdings Limited is one of New Zealand’s most iconic tourism companies, dual-listed on the NZX and ASX. Established in 1986, the company began as a scenic helicopter tour operator but has since diversified into campervan rentals and tourism experiences across Australasia.
Unfortunately, THL’s stock has faced challenges in 2024, with ASX shares down 46% year-to-date. The company struggled to capitalize on the post-pandemic travel boom due to New Zealand’s delayed border reopening. Additionally, geographic constraints have made it harder for international tourists to access New Zealand compared to other popular destinations.
Despite these hurdles, THL remains a key player in the New Zealand tourism industry, and its ASX listing provides greater visibility to Australian investors.
Conclusion
NZX companies’ dual listing on the ASX presents a special chance for investors to invest in both markets separately. Some are fairly recognisable, such as Air New Zealand and ANZ, while others such as Ventia Services, Fisher & Paykel Healthcare, AFIC, and Tourism Holdings might not be so familiar.
Here are some examples of the advantages of expanding your research beyond national borders by looking into dual listed companies: If you are looking for growth stocks, steady dividends or to get into specialized markets, these dual-listed companies illustrate the potential of going international. The next time you are looking for some shares on the ASX, try to look at these NZX listed companies.
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