Ryman capital raising surprises market amidst earnings season

Ryman is to sell 180.5m new shares. (Image: Depositphotos)

Wed, 15 Feb 2023

Aged-care provider Ryman Healthcare surprised the market as it was getting into the flow of earnings season with the announcement of a $902 million capital raising.The S&P/NZX 50 index rose just 8.7 points, or 0.07%, to 12,083.12. Turnover was $172.1m.Ryman will sell 180.5m new shares, which will increase the shares on issue by more than a third. Investors will be entitled to buy one new share for every 2.81 shares held, priced at $5 per share, a 21.9% discount to Tuesday’s close at $6.40.“It’s certainly good news for the...

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