Hey Cuz, here’s a list of choice Kiwi small cap stocks listed on the ASX

Overnight, our Kiwi neighbours across the ditch completed their first online census (with nowhere near as much turmoil as Australia’s own attempt last year).

Stats NZ had aimed for 60 per cent of New Zealanders to complete the survey by midnight the night before, and on last count 3 million had already done so.

The survey got us thinking about how many bros we might find on the local bourse.

When it comes to dual-listing status, there are two options: an ordinary listing subject to the same rules as any other company, or a foreign exempt listing, keeping up with the New Zealand Stock Exchange (NZX) and subject to fewer of the ASX standards.

In 2015, the ASX cleared the rules to allow for foreign exempt listings, prompting a wave of investment from the land of the long white cloud.

An NZX listing allows access to investors who focus on NZ companies, but broadening the investor base is a key driver for NZ companies to list on ASX.

A 2014 survey of by Orient Capital found that an ASX listing enabled NZ companies to access an investment pool of $241 billion, five times the funds available to solely NZX-listed companies and with more broker and researcher exposure.

Some of the most notable we have had to date include A2 Milk (ASX:A2M), Air New Zealand (ASX:AIZ) and accounting software maker Xero (ASX:XRO) which delisted from the NZX in December.

Here’s a list of NZ small cap stocks trading on the ASX (with a market cap less than $A500 million).

Dual listing has done good things for AFT Pharmaceuticals (ASX:AFT), the maker of non-codeine pain killers.

In 2011, Australia represented 22 per cent of AFT’s sales but since listing in 2015, Australia is now its biggest market.

Similarly, the market has seen the likes of milk maker Synlait (ASX:SM1) thrive. It joined the ASX at $3 in 2016 and had more than doubled to $7.02 on Wednesday.

The ASX’s only jet pack maker Martin (ASX:MJP) is facing a looming delisting, however — telling shareholders last week it was too expensive.

New Zealand-based Martin told investors it “continues to be in the development phase of its Jetpack product and needs to ensure that its limited cash resources are used to maximise the development of its product, rather than to pay for administrative costs, including ASX listing fees”.