BlackBull Markets Explores Dual ASX/NZX Listing

Auckland-based forex and CFD broker BlackBull Markets has confirmed it is in discussions with institutional investors about its strategy and performance, signaling preparations for a potential public listing.

The company's co-founder Michael Walker and other senior executives have been holding investor meetings, a BlackBull Markets spokesperson confirmed, without disclosing details on valuation or the amount of capital it aims to raise.

Dual Listing Plans

The Australian Financial Review reported earlier this week that BlackBull Markets had mandated Barrenjoey Capital Partners, UBS, and Forsyth Barr to manage a dual listing on the Australian Securities Exchange (ASX) and the New Zealand Stock Exchange (NZX). BlackBull Markets itself has not officially confirmed the mandate but has acknowledged it is conducting a “review of strategic options.”

BlackBull Markets offers trading in forex, indices, commodities, and equities through MetaTrader 4 and 5 platforms. Founded in 2014, the company has grown to serve retail and institutional clients across more than 180 countries, with offices in New Zealand, the UK, and Cyprus. A public listing would provide access to deeper capital markets and enhance its brand credibility in the competitive brokerage space.

The broker is regulated by the Financial Markets Authority in New Zealand and holds additional licenses in Mauritius and the Seychelles. A dual listing on the NZX and ASX would place it among a small but growing group of fintech and brokerage firms seeking public listings in both markets.

Observers say the move reflects a broader trend of online brokers capitalizing on retail trading volumes and investor appetite for fintech stocks. No timeline for a potential initial public offering has been disclosed.