NZ sharemarket falls as investors look for cash for airport capital raise

NZ sharemarket falls as investors look for cash for airport capital raise
Auckland International Airport was the big story on the NZX on Monday. (Image: Getty)
Graham Skellern
Investors scrambled to raise money and participate in Auckland International Airport’s massive $1.4 billion capital raise which weighed on the New Zealand sharemarket.It is the country’s largest corporate equity raising outside of an initial public offering when a company is listed on the sharemarket. Auckland airport and Air NZ had earlier raised $1.2b each in April and May 2022 to strengthen their balance sheets following the covid pandemic.The S&P/NZX 50 Index fell 128.16 points or 1% to 12,704.39. There were 62 gainers...

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