NZ shares fall as Air NZ goes ex-rights

NZ shares fall as Air NZ goes ex-rights
Dan Brunskill
New Zealand headline share index fell Monday, led lower by Air NZ which fell sharply as shares lost the right to participate in the capital raise at a discounted price.The S&P/NZX 50 Index 36.24 points, or 0.3%, to 12,053.19. Turnover was $135.7 million.Air NZ had the biggest headline loss, plunging 22.2% to 90.5 cents with shares no longer giving the holder the right to participate in the capital raise.Investors who bought the stock before market close on Friday will have a right to buy two more shares for 53 cents each.They can also choos...

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