3 Feb 2011

Australian stock market changes affect NZ firms

9:02 am on 3 February 2011

Telecom says the Australian stock exchange is changing the way its index weighting is calculated.

The changes which come into effect on 21 March mean New Zealand companies will be subject to the same domicile test as all other ASX companies.

Telecom expects its current weighting in the S&P/ASX 200 index to fall to between 25% and 30% of its current weighting.

The changes are also expected to affect other New Zealand companies that are listed on the Australian stock exchange.