Move's $40m capital raising to reduce high gearing

Move's $40m capital raising to reduce high gearing
Chief executive Chris Dunphy said Move will use the funds "very judiciously". (Image: supplied)
Jenny Ruth
It appears the Move Logistics $40 million capital raising could have been larger.That's even though the new capital is sizeable compared to its current market capitalisation of $142m."We've been very circumspect about first of all raising the money the business needs and not creating a war chest or doing anything silly," chief executive Chris Dunphy told BusinessDesk.Dunphy laughed when asked whether the merchant bankers had wanted the company to raise more."I'm saying we can use the funds we've raised very judici...

More Finance

Port of Auckland to pay $45m special dividend to council
Finance

Port of Auckland to pay $45m special dividend to council

The divestment proceeds will be used to top up the Auckland Future Fund.

Oliver Lewis 27 Jun 2025
$600m in tourist spend at risk from regulation: Mastercard
Finance

$600m in tourist spend at risk from regulation: Mastercard

When Europe cut interchange fees, foreign card decline rates soared.

Pattrick Smellie 27 Jun 2025
Michael Lorimer exits Grant Samuel amid more sector change
Finance

Michael Lorimer exits Grant Samuel amid more sector change

Lorimer has sold his 80% stake in the corporate advisory firm.

Duncan Bridgeman 26 Jun 2025