MARKET CLOSE: NZ shares fall; Kathmandu sinks after raising funds at steep discount

Thu, 02 Apr 2020

New Zealand shares fell, led by a slump in Kathmandu Holdings after the retailer raised funds at a steep discount. Fears about the severity of the covid-19 outbreak in the US also weighed on investor sentiment. The S&P/NZX 50 Index dropped 55.52 points, or 0.6 percent, to 9.870.56. Within the index, 31 stocks fell, 14 rose, and five were unchanged. Turnover was $157.2 million. Kathmandu led the market lower as it slumped 27.7 percent to 81 cents. The retailer raised $154 million at 50 cents a share from institutional investors, and is s...

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