Air NZ shares sell at premium in bookbuild

Thu, 05 May 2022

Air New Zealand shares have dropped to match the price set in a bookbuild allocating the rights not taken up in the airline’s $1.2 billion equity offering. Investors bought 274 million shares at 81 cents each in the shortfall bookbuild, meaning those Air NZ shareholders who chose not to take up their right to buy cheap shares will receive the 28 cent premium. The airline’s shares had been at 87 cents before trading was halted to allow the bookbuild to take place, and they dropped 6.9% to 81 cents in midday trading on the N...

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