Auckland Airport completes $1.2 billion placement

Auckland Airport has announced the successful completion of its $1.2 billion fully underwritten placement.

The placement, which was announced on September 16, received strong support and was fully subscribed at the offer price of $6.95 per share.

This represents a discount of 7% to the ex-dividend adjusted last close price of $7.48 on September 13, 2024.

The company said it tried to allocate all existing eligible institutional shareholders who bid, their pro-rata allocation of the placement.

Settlement of the placement is expected to occur on September 19 and 20, 2024, for the ASX and NZX, respectively.

Auckland Airport is also undertaking a $200 million retail offer.