Warehouse worst performer on NZX 50 Index after trading resumes following share sale

Thu, 06 Mar 2014

By Tina Morrison March 7 (BusinessDesk) – Warehouse Group is the worst performer on New Zealand’s benchmark NZX 50 Index today after the shares resumed trading following a discounted stock offering to raise money for the retailer’s expansion into financial services. Shares in Warehouse dropped 3.6 percent to $3.48 after the retailer yesterday raised $100 million selling shares at a discount of $3.23 apiece. The shares closed at $3.61 on Wednesday before the company issued a trading halt ahead of the announcement of its earnings and the expan...

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