NZ Super Fund sells 7.6 percent of Auckland Airport at 6.1 percent discount, raising $276 mln

Thu, 14 Feb 2013

Feb. 15 (BusinessDesk) – The New Zealand Superannuation Fund sold 7.6 percent of Auckland International Airport for a 6 percent discount, raising $276 million and benefiting from a share price near a five-year high. The selldown was initiated by Morrison & Co Funds Management, which managed the investment for the fund. The sale was managed and underwritten by UBS New Zealand. The shares were sold overnight to institutions at $2.76 apiece, below yesterday’s close of $2.94, which was the highest since November 2007. “We are always looking to g...

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