NZ’s capital market looks a little rusty

(Image: BusinessDesk)

Wed, 06 Apr 2022

New Zealand’s financial markets are looking a little out of practice after the first renounceable rights offer in four years tripped over the starting line.The simple problem everyone is tripping over is a different format for the rights offer.It goes like this: each Air NZ share is given a single right which entitles the holder to buy two shares at the discounted price.It isn’t that complicated. The problem is that it is the opposite of what the broking community and the stock exchange expected.Previous rights offers have been stru...

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