NZ shares fall even as Pushpay climbs

Logistics shares were weaker and Mainfreight declined 1.5% to $75.81. (Image: Mainfreight).

Tue, 24 May 2022

New Zealand's main share index fell on Tuesday as declines among large companies more than offset a $200 million increase in Pushpay’s market value following takeover bid updates.The S&P/NZX 50 Index fell 70 points, or 0.6%, to 11,247.03. Turnover was $115 million.Pushpay Holdings jumped 12.9% to $1.40, despite the falling market, after existing shareholders BGH Capital and Sixth Street revealed they were working together on a takeover bid.This prompted Pushpay to make a statement talking down the agreement and emphasising it was...

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