Investors hold Air NZ shares as trading resumes

Investors hold Air NZ shares as trading resumes
Air New Zealand was trading at $1.38 ahead of an announcement on its capital raise.
Dan Brunskill
Air New Zealand shares opened down less than half a percent at $1.37 this morning after the airline announced a $2.2 billion recapitalisation plan last night.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.While that is a hefty 61% discount to the market price, it is only a 35% discount to a theoretical share price of 81 cents that factors in the dilution of the capital raise.Jarden analyst Andrew...

More Markets

Analysts struggle to find upside from Trump tariffs
Economy

Analysts struggle to find upside from Trump tariffs

‘They've forgotten the lessons of the Great Depression,’ one analyst said.