Markets

Eroad to raise up to $50m as it lists on ASX

Dan Brunskill
Thu, 17 Sep 2020

Eroad is raising $50 million of new capital to accelerate its growth strategies, with the sale timed to coincide with a foreign exempt listing on the ASX. Australian brokers Bell Potter Securities and Canaccord Genuity have underwritten a $42 million share placement and will manage an $8 million share purchase plan for existing investors. Trading in the shares is halted for the placement bookbuild. Shares will be offered at $3.90, a 10.3 percent discount to Monday’s closing price of $4.35 and a 9 percent discount to the 10-day volume-we...

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Markets

MARKET CLOSE: Profit taking pulls shares down

Dan Brunskill | Mon, 21 Sep 2020

Profit taking pushed New Zealand’s benchmark stock index more than 500 points below its record as investors found few reasons to buy with a global recession in progress. The S&P/NZX 50 Index fell 94.42 points, or 0.8 percent, to 11,539.10. Within the index, 34 stocks fell, 11...

Infrastructure

Power market trading rules 'unsatisfactory' - review

Gavin Evans | Mon, 21 Sep 2020

Spot electricity market trading conduct rules are flawed, legal experts say.

Retail

Why Turners kicked vendor off car yards

Victoria Young | Mon, 21 Sep 2020

Former owner's behaviour "random and unhelpful," court told in Turner's car yard battle.

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