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)

Mon, 16 Sep 2024

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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