RESEND: MARKET CLOSE: NZ stocks fall as investors mull IPOs; Infratil, Fletcher, Telecom drop

RESEND: MARKET CLOSE: NZ stocks fall as investors mull IPOs; Infratil, Fletcher, Telecom drop
By Suze Metherell May. 27 (BusinessDesk) -  New Zealand shares fell as investors held back cash for upcoming listings. Infratil led the market lower as it shed rights to its full-year dividend. Air New Zealand, Trade Me Group and Telecom paced the decline. The benchmark index fell 7.834 points, or 0.2 percent, to 5145.85. Within the index, 23 shares fell, 18 rose and nine were unchanged. Turnover was thin for a second day at $82 million as Wall Street and UK markets were closed overnight for national holidays. Investors mulled two init...