Air NZ to join in discounted Virgin Australia rights offer

Wed, 15 Jun 2016

By Paul McBeth June 15 (BusinessDesk) - Air New Zealand will take part in Virgin Australia's planned A$852 million rights issue, even though the national carrier plans to offload the bulk of its stake to China's Nanshan Group. Melbourne-based Virgin Australia today said it will sell shares at 21 Australian cents apiece, a discount to the 29.5 cents trading price before the ASX opened, to shore up its balance sheet in a one-for-one non-renounceable pro rata entitlement. Australia's second-biggest airline had already announced plans to rai...

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