MARKET CLOSE: NZ shares fall as investors make way for $1b Auckland Airport placement

MARKET CLOSE: NZ shares fall as investors make way for $1b Auckland Airport placement
Dan Brunskill
New Zealand shares fell as investors freed up cash to take part in the $1 billion placement of new Auckland International Airport shares. Kiwi Property Group, Contact Energy and Fisher & Paykel Healthcare were all off the pace today.  The S&P/NZX 50 Index dropped 171.36 points, or 1.7 percent, to 9,763.82. Within the index, 36 stocks fell, eight rose, and six were unchanged.  Auckland Airport shares were halted today at $5.04 to allow for a $1 billion placement to institutional investors at a discounted $4.50 a share. And the airport plan...

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