Z Energy slides on ASX

The exchange rate between Australia and New Zealand sent the company's share price right into the red when it debuted on the ASX today.

Z Energy (ZNZ) shares have sunk more than 7% in their debut on the Australian Securities Exchange as the stock moves to account for the exchange rate between Australia and New Zealand.

The company's share price fell 7.14% to $3.25 at 1216 AEST as the stock corrected for the 0.88NZ/AUD exchange rate after a strong performance when it hit the boards in New Zealand hours earlier.

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