CORRECT: King Salmon rises 3.6% in NZX debut after existing shareholders use IPO to trim holdings

Tue, 18 Oct 2016

(Corrects name of Chapman Tripp partner in 10th paragraph) By Jonathan Underhill Oct. 19 (BusinessDesk) - New Zealand King Salmon shares rose 3.6 percent in their NZX debut after the fish farming company raised more than $70 million to fund its growth and allow existing shareholders to reduce their holdings. The stock first traded at $1.16 on the NZX, valuing the company at about $160 million. It sold about 69 million shares in the IPO, raising $30 million of new capital to repay debt, and to fund future investment and working capital,...

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