Share Purchase Plan closes oversubscribed

Refining NZ's $5 million Share Purchase Plan (SPP) has closed oversubscribed, raising around $48.5 million in new equity.

Applications for the SPP totalled approximately $9.5 million, with Refining NZ accepting all additional applications of approximately $4.5 million.

Settlement and allotment of the new shares issued under the SPP is expected to occur on 17 December 2021, with NZX trading in the new shares to commence on the same day.

The new shares will rank equally with existing Refining NZ shares on issue.