I have mixed feelings also on the merits.
Been great for larger stocks like XRO, but NZ small caps seem to languish on ASX.
Just another cost to be listed, it fragments what is generally low trading between 2 markets,
There is nothing to stop Aussies buying NZO on NZX, in the same way Kiwis buy other shares on ASX, we already know that.
https://www.sharetrader.co.nz/newrep...reply&p=844461
Perhaps NZO are being pre emptive of success with Ironbark, preparing to cap raise their share of development funding?