Infrastructure

Ryman tossed out of the MSCI; Macquarie says buy

Jenny Ruth
Mon, 16 May 2022

Ryman tossed out of the MSCI; Macquarie says buy
Ryman chief executive Richard Umbers is said to have changed pricing strategy. (Photo: Ryman)
Jenny Ruth
Mon, 16 May 2022
As foreshadowed for a couple of months, Ryman Healthcare shares will fall out of the MSCI Standard Index after May 31.Forsyth Barr estimates that will mean about $232.3m worth of shares will be sold by index funds and other fund managers hugging the index.Ryman shares have already been badly beaten up, dropping as low as $8.23 on May 5 compared with $12.25 at the end of last year and a peak of $15.85 in March last year.Ironically, the shares rebounded after the announcement early Friday, jumping 14 cents, or 1.5%, to $9.39.Perhaps coincidentall...

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