NSX, the operator of the Bendigo and National Stock Exchange, has struck a funding deal involving a wealthy Chinese businessman that could raise more than $4million amid ongoing conflict between shareholders, former directors and its new management team.

The NSX board said it had approved a placement of 10 per cent of the issued capital at 20¢ a share - a 23 per cent discount to NSX's share price before the announcement - to raise just under $1.5 million, and in addition will undertake a 1-for-5 rights issue at 17¢ a share. The issue of a combined 16.3million shares will boost the coffers of the small exchange operator by $4.3 million.