MARKET CLOSE NZ shares declined as investors sell up to invest in Summerset, Meridian

Fri, 18 Oct 2013

By Tina Morrison Oct. 18 (BusinessDesk) - New Zealand shares declined as investors sold up some of their holdings to participate in a private equity sale of shares in Summerset Group Holdings and as they prepare for next Wednesday’s bookbuild for the initial public offering of Meridian Energy shares. The NZX 50 Index dropped 17.411 points, or 0.365 percent, to 4758.591. Within the index 31 stocks fell, 18 rose, and one was unchanged. Turnover was $472 million. “Our market might have been affected by a couple of corporate events,” said James...

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