Opinion

It may be 'intellectually cute', but I prefer pro-rata capital raising

Jenny Ruth
Mon, 14 Mar 2022

It may be 'intellectually cute', but I prefer pro-rata capital raising
Chapman Tripp partner Roger Wallis argues for shades of grey in raising capital. (Image: Chapman Tripp)
Jenny Ruth
Mon, 14 Mar 2022
Chapman Tripp partner Roger Wallis has a long track record on advising companies on corporate and securities law and is more often that not advising participants in major deals.So, I was inclined to at least listen when he criticised my view that stock exchange operator NZX was setting a good example by using what I deem a much fairer method than usual of raising capital, the accelerated renounceable equity offer (areo) structure.Chapman Tripp's own analysis shows the most common form of equity raising since June 2020 has been a placement t...

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