NZ shares steady despite Air NZ's descent

Thu, 31 Mar 2022

New Zealand's sharemarket was flat on Thursday, even though Air NZ fell to a two-year low after announcing its deeply discounted capital raise. The S&P/NZX 50 Index rose 11 points, or 0.1%, to 12,110.26. Turnover was high at $277.2 million.A huge chunk of this volume was traded through Air NZ with investors swapping almost 11m shares at a value of just under $14m.Shares in the airline fell 6.2% to $1.29, which is a significant drop but small relative to the 35% discount – at 53 cents – offered in the $1.2 billion c...

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