King Salmon shares jump out of the water

NZ King Salmon shares surged irrationally. (Image: Getty)

Fri, 22 Apr 2022

New Zealand shares generally fell on Friday, but NZ King Salmon raced in the opposite direction as its shares detached from the right to participate in its upcoming capital raise. The S&P/NZX 50 Index fell 45.5 points, or 0.4%, to 11,915.88. Turnover was $264 million, boosted by the rebalance of the S&P Global Clean Energy Index.Fish farmers NZ King Salmon did not follow this trend and its share price exploded by more than 45% in relatively light trading.The company is doing a renounceable rights offer – like Air NZ –...

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