In a positive sign for the industry as a whole, two retirement village operators and developers will be joining the NZ stock exchange’s benchmark NZX 50 Index.
Summerset Group and Metlifecare met the stock exchange's liquidity and ranking criteria. Summerset has a market cap of NZ$474.8 million while Metlifecare is valued at NZ$560.7 million.
Both companies will join the NZX Top 50 on December 24 replacing food ingredients maker Goodman Fielder, and NZ Refining, both of which failed to meet liquidity requirements in the two most recent reviews.