Air New Zealand has successfully raised NZ$1.2 billion through its 2 for 1 pro rata renounceable rights offer and a subsequent shortfall bookbuild.
The proceeds will be used to strengthen the balance sheet, improve liquidity and help position the airline for recovery.
The bookbuild was well supported by existing shareholders and new investors, and the premium of NZ$0.28 per share will be paid to those groups by Monday, 16 May 2022.
Settlement is expected to occur on Friday, 6 May 2022, with trading of new shares commencing on Monday, 9 May 2022.
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