Napier Port jumps 12% on NZX debut following oversubscribed public offer

Tue, 20 Aug 2019

By Rebecca Howard Aug. 20 (BusinessDesk) - Napier Port debuted at $2.91 on the New Zealand stock exchange, up 12 percent on its initial public offer price, amid pent-up demand after an oversubscribed bookbuild earlier this month. Hawke's Bay Regional Council raised $234 million selling 90 million shares, or 45 percent, of the port operator. “Today is the culmination of a five-year journey that has seen the port, Hawke’s Bay Regional Council and the broader community working in close partnership towards a shared goal,” chair Alasdair M...

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