Sky TV offers cheap shares to raise $157m, talks up next phase

Gavin Evans
Thu, 21 May 2020

Gavin Evans
Thu, 21 May 2020
Sky Network Television plans to raise $157 million through an underwritten and deeply discounted share offer to shore up its balance sheet while national and international sporting events are restricted, and to prepare a new broadband product.The offer is priced at 12 cents a share – a 63 percent discount to yesterday’s closing price at 33 cents – and will increase the stock on issue four-fold. It is structured as a $9 million placement to institutions and a $148 million pro-rata entitlement offer at 2.83 new shares for each s...
Regulator sues ANZ over credit card insurance
Dan Brunskill | Fri, 05 Jun 2020

The Financial Markets Authority has filed High Court proceedings against ANZ Bank New Zealand, alleging it charged some customers for credit card repayment insurance policies that offered those custom...

MARKET OPEN: Profit taking may be the flavour of the day, US jobs data in focus
Rebecca Howard | Fri, 05 Jun 2020

Weaker offshore markets may spill over into New Zealand as investors look to lock in profits after several positive days. Wall Street is set to end its four-day rally ahead of the May non-farm payr...

Loss expected from NZ Steel on covid shutdown
Gavin Evans | Fri, 05 Jun 2020

BlueScope Steel’s New Zealand business could post its first half-yearly loss in four years on the back of the country’s strict covid-19 shutdown, Jarden analysts say. The New Zealand Steel and Paci...

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