Napier Port share offer $2.27-$2.60; will raise net $110 million

Mon, 15 Jul 2019

By Gavin Evans July 15 (BusinessDesk) - Napier Port expects to raise up to $234 million from the planned sale of 45 percent of the business through a public share offer. The offer, indicatively priced at $2.27 to $2.60 a share, will raise gross proceeds of $204.3 million to $234 million. After expected costs of $14 million, and $80 million for current owner Hawke’s Bay Regional Council – including a $44 million special dividend - the net proceeds will be $110.2 million. Pricing at the top end of the range will increase the sum the council...

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