Brokers accept fee of just 0.35 percent in Air NZ sale pitched at $1.60 a share

Brokers accept fee of just 0.35 percent  in Air NZ sale pitched at $1.60 a share
By Jonathan Underhill Nov. 18 (BusinessDesk) – Brokerages participating in the sale of 20 percent of Air New Zealand for the government have accepted a fee of just 0.35 percent for what is seen as a trophy deal, people close to the transaction say. The bookbuild, which was started today and will be completed by tomorrow afternoon, has been pitched at a starting price of $1.60 a share and is expected to settle between $1.60 and Friday’s closing price of $1.65, they said. At Friday’s price, the 220 million shares on offer are worth $363 millio...