King Salmon to sell shares at $1.12 apiece in IPO, raising $77.5 mln
By Paul McBeth Sept. 23 (BusinessDesk) - New Zealand King Salmon plans to sell shares at $1.12 in an initial public offering, giving one of its cornerstone shareholders an exit from the Marlborough Sounds fish-farmer and raising $30 million of new capital. The Nelson-based...
Warehouse lifts annual earnings 12%, pipping guidance, as cost cutting improves margins
By Paul McBeth Sept. 23 (BusinessDesk) - Warehouse Group lifted annual earnings 12 percent, just beating the top end of its guidance, as the country's largest listed retailer eked out bigger reductions in its cost base to widen operating margins. Adjusted profit rose to $64...
NZ dollar falls as RBNZ lays groundwork for November rate cut
By Paul McBeth Sept. 23 (BusinessDesk) - The New Zealand dollar fell as the Reserve Bank lay the groundwork for lower interest rates later this year as inflation continues to be restrained by the strength of the currency. The kiwi slipped to 73.03 US cents at 8am in Wellin...
Wood processors push for faster trade refresh in face of foreign subsidies
By Paul McBeth Sept. 23 (BusinessDesk) - New Zealand wood processors and manufacturers want the government to speed up a refresh of the nation's trade policy as other countries offer more support to their forestry sectors. Trade Minister Todd McClay plans to tilt policy to...
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