NZ shares fall as Ryman completes capital raise bookbuild

Mon, 20 Feb 2023

New Zealand shares fell as Ryman Healthcare completed its bookbuild and investors worried about cyclone damage and interest rate policy.The S&P/NZX 50 Index fell 248 points, or 2.1%, to 11,896.05. Turnover was $121 million.Ryman Healthcare drove much of the market weakness on Monday, as it completed the institutional component of its $902 million rights issue.Shares in the retirement village operator finished down 4.6% at $5.75, well below the $6 offer price, and traded as low as $5.60 during the day.Peter McIntyre, an investment advisor at...

Subscribe to BusinessDesk

Stay informed on business, government and financial developments across New Zealand.

Stay informed on business, government and financial developments across New Zealand.
Deeply researched, twice-edited and fact-checked news
Annual subscribers also receive a complimentary subscription to The Wall Street Journal
Personalised email news alerts, plus gift up to 5 stories a month to non-subscribers

You can cancel anytime with two clicks, an email or a phone call.
Find out more.

We are serious about journalism.

Name {{ registerForm.errors.get('name') }}

Email address {{ registerForm.errors.get('email') }}

Phone Number {{ registerForm.errors.get('phone') }}

Job Title {{ registerForm.errors.get('title') }}

Password Minimum password length of 8 characters.
Require at least one upper and lowercase, numeric, and special character. {{ registerForm.errors.get('password') }}

Repeat password {{ registerForm.errors.get('password_confirmation') }}

We had trouble validating your card. It's possible your card provider is preventing us from charging the card. Please contact your card provider or customer support.

Credit Card

Cardholder's name

{{ __(plans[index].name) | capitalize }} {{ plans[index].attributes.old_price | currency }} {{ plans[index].price | currency }}

All subscriptions auto renew but are easy to cancel.

I Accept The Terms Of Service

{{ registerForm.errors.get('terms') }}

Tax: {{ taxAmount(selectedPlan) | currency }}

Total Price Including Tax: {{ priceWithTax(selectedPlan) | currency }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerSeat ? '/ '+ spark.seatName : '' }} {{ selectedPlan.type == 'user' && spark.chargesUsersPerTeam ? '/ '+ __('teams.team') : '' }} / {{ __(selectedPlan.interval) | capitalize }}

Economy

What Willis was told ahead of Orr’s shock resignation

It’s been revealed that Finance Minister Nicola Willis was briefed on how to answer questions from the media on whether Adrian Orr ever raised his voice with her, following his shock resignation as Reserve Bank of New Zealand governor.Documents released to the Herald under the Of...

Staff reporters 3:20pm

Infrastructure