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...

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