MARKET CLOSE: NZ shares rise, paced by Tower, Meridian as IPOs loom

Thu, 03 Jul 2014

By Jonathan Underhill July 3 (BusinessDesk) - New Zealand shares rose, paced by Tower, Meridian Energy and Diligent Board Member Services as institutions turned their attention to offers of shares from Metro Performance Glass and Scales Corp, seeking to raise up to a combined $460 million. The NZX 50 Index rose 5167.394 points, or 0.4 percent, to 5167.394. Within the index, 29 stocks rose, 16 fell and five were unchanged. Turnover was $102 million. Metroglass and Scales have pushed on with their bookbuilds in the shadow of Hirepool, wh...

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