Napier Port shares surge on strong cargo volumes

Napier Port shares surge on strong cargo volumes
Paul McBeth
Napier Port shares hit a record after the Hawke's Bay operator said its cargo and container volumes beat forecasts. The stock rose as high as $3.50 and was recently at up 1.5 percent at $3.45. The shares were listed in August in a partial privatisation by the Hawke's Bay Regional Council, selling at $2.60 a share in an initial public offering. That's a 32.7 percent gain over a period when the S&P/NZX All Index has been relatively flat. The port operator said total container volumes were up 1.9 percent at 271,000 TEUs (20-foot equi...

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