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

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

More Markets

NZ sharemarket ends week down 0.8%
Markets Market Close

NZ sharemarket ends week down 0.8%

The S&P/NZX 50 Index closed at 13,024.7, down 35.38 points or 0.27%.

Graham Skellern 24 Jan 2025
Being AI vs Clare Capital: $150k settlement reached
Markets

Being AI vs Clare Capital: $150k settlement reached

Being AI filed defamation proceedings against Clare Capital and its directors in April.

John Anthony 24 Jan 2025
Akaroa King Salmon boss steps down after 23 years
Primary Sector

Akaroa King Salmon boss steps down after 23 years

Scotsman Stewart Hawthorn takes over from Duncan Bates as Akaroa King Salmon CEO.

John Anthony 24 Jan 2025
Blair Turnbull named CEO of Milford Asset Management
Markets

Blair Turnbull named CEO of Milford Asset Management

Blair Turnbull is set to take the helm as chief executive of Milford Asset Management from March 12.Turnbull, currently CEO of Tower, replaces Mark Ryland. “As we welcome Blair to Milford, we extend our appreciation to Mark Ryland, who will step down as CEO on Blair’s commencemen...

Staff reporters 24 Jan 2025