Auckland Airport to raise up to $1.2 billion in new equity

Mon, 06 Apr 2020

Auckland Airport is to raise $1.2 billion of new capital to reinforce its balance sheet as it weathers covid-19.“The covid-19 pandemic has had a significant impact on Auckland Airport’s operations and will continue to do so under the current border restrictions and through the subsequent recovery period,” said chief executive Adrian Littlewood.The airport said it is undertaking a $1 billion fully underwritten placement and a $200 million share purchase plan.The placement has been underwritten at a floor price of NZ$4.50 per share, which represe...

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