GeoOp shares plunge 23% after discounted rights offer announced

Sophie Boot
Mon, 12 Sep 2016

By Sophie Boot Sept. 12 (BusinessDesk) - GeoOp's shares dropped 23 percent after the management app developer said it plans to raise $3.6 million in a discounted rights offer. The NZAX-listed company will issue up to 17.9 million new shares at 20 cents apiece, a 38 percent discount to where the shares traded before the announcement of 32.5 cents. The shares recently traded at 25 cents, matching the record low reached earlier in the year. The stock sold at $1 in its initial public offering in October 2013 and soared as high as $4.49 in Nov...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
NZ shares fall as market rally evaporates
Dan Brunskill | Wed, 29 Jun 2022

A survey showed US consumer confidence was at its lowest since 2013.

Donald Trump Steers Himself into a Legal Morass
Bloomberg | Wed, 29 Jun 2022

I don’t think anyone can doubt that Trump committed crimes, based on the testimony we’ve heard. Serious crimes. 

Kiwi chair Mark Ford says property values may fall 5-10%
Jenny Ruth | Wed, 29 Jun 2022

Many of the factors weighing on Kiwi Property's share price are beyond its control, chair Mark Ford told shareholders.

Investments to sustain the momentum of building in NZ

Classic Capital has opened its Land & Build fund to qualified wholesale and eligible investors.

High water marks: Watercare raises the tide on sustainability

The No.1 barrier to decarbonisation for NZ organisations is accurate measurement, says Microsoft’s Accelerating the Journey to Net Zero report.