NZX retail rights issue shortfall was 66%

NZX retail rights issue shortfall was 66%
NZX chair James Miller has said NZX insisted on a pro-rata form of capital raising. (Image: supplied)
Jenny Ruth
The shortfall in the retail part of the NZX share offer was near 66% and about 13.2 million rights not taken up are being auctioned today, according to a note Craigs Investment Partners sent to institutional clients.Craigs was joint lead manager of the $44 million capital raising with UBS New Zealand, which has also underwritten the issue.The shortfall won't come as any surprise since NZX shares closed on Monday at $1.38 compared with the $1.42 per share exercise price of the rights.The dividend-adjusted share price on Feb 16, the day befor...

More Finance

No longer 'boutique' Generate is executing, CEO says
Finance

No longer 'boutique' Generate is executing, CEO says

The fund manager is now the seventh-largest KiwiSaver provider.

Gregor Thompson 09 May 2025
ANZ half-year profit surges on non-cash gains
Finance

ANZ half-year profit surges on non-cash gains

Cash earnings were flat, and net interest margin rose slightly.

Pattrick Smellie 08 May 2025
BNZ preserves margins on flat half-year
Finance

BNZ preserves margins on flat half-year

BNZ outranks its Australian cousins for customer preference.

Pattrick Smellie 07 May 2025
Westpac's NZ net interest margin expands again
Finance

Westpac's NZ net interest margin expands again

Net interest margins rose in NZ, but shrank for the group as a whole.

Pattrick Smellie 05 May 2025