Shares surge on Infratil's $3b Tilt sale

Mon, 15 Mar 2021

NZ shares surged as infrastructure investor Infratil made good on its promise to demonstrate its portfolio was undervalued with the almost $3 billion sale of Tilt Renewables in which it held a majority stake. The S&P/NZX 50 Index rose 165.49 points, or 1.3 percent, to 12,592.26. Within the index, 35 stocks rose, 11 fell and five were unchanged. Turnover was $145.5 million.In February, Infratil’s senior management told investors it was “crystal clear” that refusing AustraliaSuper’s $5.7b takeover bid put them &l...

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