Air NZ shares holding up, investors ready to pounce

Air NZ shares holding up, investors ready to pounce
The shares were down 8% in mid-day trading. (Image: Getty)
Rebecca Howard
Air New Zealand shares were only down 8% in midday trading despite a heavily discounted $2.2 billion recapitalisation plan as some investors looked to get in on the action. The company plans to raise $1.2b in a 2-for-1 renounceable rights offer priced at 53 cents per share. The stock had been trading at $1.38 before going into a trading halt for the announcement. That was a hefty 61% discount to the market price but only a 35% discount to a theoretical share price of 81 cents that factors in the dilution of the capital raise.The stock...

More Markets

NZD outlook: 2025 more about surviving
Markets

NZD outlook: 2025 more about surviving

The kiwi shed more than 11% in 2024, and we already see more downsides. 

Rate decision odds are tight, NZD set for a wild ride
Markets Best of BusinessDesk

Rate decision odds are tight, NZD set for a wild ride

It did turn out to be an understatement. 

Analysts expect RV companies to raise equity
Property

Analysts expect RV companies to raise equity

“We expect investor support for a capital raise," Jarden's Arie Dekker said.

Cross-border rules on aviation emissions give airlines easy ride
Markets

Cross-border rules on aviation emissions give airlines easy ride

Around 80% of Air NZ's emissions from jet fuel are from international flights.