Paper Plus NZ undersubscribes $1m capital raise by 40%

Paper Plus NZ undersubscribes $1m capital raise by 40%
Of Paper Plus's 90 members, 38 did not participate in the capital raise. (Image: Paul Taylor)
Gregor Thompson
Paper Plus New Zealand has raised nearly $600,000 from its owner-operators but undersubscribed its target after issuing more than one million shares at $1 each.In July, Paper Plus NZ, which operates as a co-operative and acts as the retailer’s franchisor, turned to its members for capital after reporting a net loss of $553,000 in the 12 months to March 31. A document published on the Companies Office on Tuesday revealed that directors signed a resolution on Oct 18 to issue 1.03m shares and offer them to holders of A shares (members)...

More Retail

Credit card issuers fear ComCom proposals
Finance

Credit card issuers fear ComCom proposals

The proposed regulations will stifle banking competition, says Mastercard.

Pattrick Smellie 02 Apr 2025
Trump-era FX 'compounding' margin losses, analysts say
Retail

Trump-era FX 'compounding' margin losses, analysts say

"Liberation day" could make matters worse, says Kiwibank’s Kerr.

Gregor Thompson 02 Apr 2025
Are all Willis’ duopoly-breaking options really on the table?
Retail Analysis

Are all Willis’ duopoly-breaking options really on the table?

A survey of her external adviser's views suggests not.

Gregor Thompson 01 Apr 2025
My Food Bag CEO signals 'return to growth'
Retail

My Food Bag CEO signals 'return to growth'

My Food Bag's chief executive, Mark Winter, says the company has "returned to growth" after strengthening its sales performance in the second half of the financial year.On Tuesday, the meal-kit delivery firm told the NZX that it expects to deliver full-year earnings in line w...

Gregor Thompson 01 Apr 2025