MARKET CLOSE: NZ shares fall as Infratil flags equity raising for Vodafone deal

Tue, 14 May 2019

By Paul McBeth May 14 (BusinessDesk) - New Zealand shares fell as infrastructure investor Infratil flagged it will raise new equity to help fund its share of the $3.4 billion takeover of Vodafone New Zealand. The S&P/NZX 50 Index fell 56.48 points, or 0.6 percent, to 10,070.35. Within the index, 29 stocks fell, 18 rose, and three were unchanged. Turnover was $155.6 million. Infratil fell as much as 6.1 percent, and ended the day at $4.48, down 2.6 percent on a bigger volume than usual of 2.1 million shares. The investment firm will p...

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