AIA - $1.2 billion Placement Fully Subscribed

NOT FOR DISTRIBUTION OR RELEASE IN THE UNITED STATES

Market Release | 17 September 2024

Auckland Airport $1.2 billion Placement Fully Subscribed

Auckland International Airport Limited (“Auckland Airport”) (AIA.NZX, AIA.ASX) is pleased to announce that it has successfully completed the bookbuild for its $1.2 billion fully underwritten placement, announced on 16 September 2024 ("Placement"). The Placement was strongly supported, attracting bids well in excess of the $1.2 billion total offer amount from existing institutional and other select investors in both local and offshore markets. Auckland Airport endeavoured to allocate all existing eligible institutional shareholders who bid for their pro-rata allocation of the Placement at least that amount of new shares.

The Placement was fully subscribed at the Offer price of $6.95 per share. This represents a discount of 7.0% to the ex-dividend adjusted(1) last close price of $7.48 on 13 September 2024 and a discount of 6.3% to the ex-dividend adjusted1 5-day VWAP of $7.41.

Chief Executive Carrie Hurihanganui said she was very pleased with the level of support for the Placement, and the broader capital investment programme shown by the investment community, to enable Auckland Airport to deliver critical infrastructure that will add resilience and provide greater airline capacity growth.

Settlement of the Placement is expected to occur on 19 September 2024 for the ASX and on 20 September 2024 for the NZX, with allotment and commencement of trading on NZX and ASX expected to occur on 20 September 2024. The new shares to be issued under the Placement will rank equally in all respects with Auckland Airport’s existing ordinary shares quoted on the NZX and ASX from the date of allotment. New shares are not entitled to the final dividend to be paid on 4 October 2024 (with a record date of 19 September 2024).

As announced on 16 September 2024, Auckland Airport is also undertaking a $200 million retail offer ("Retail Offer")(2). The Retail Offer Document, together with an application form, will be sent on 19 September 2024 to eligible retail shareholders as at the record date of 13 September 2024 with a registered address in New Zealand or Australia and will also be made available online at www.aucklandairportshares.co.nz from 19 September 2024.

Key dates relating to the Retail Offer are set out in the Appendix to this announcement.

ENDS

For more information:
Investors:
Chief Financial Officer
Stewart Reynolds
+64 27 511 9632
[email protected]


Appendix – Key dates for Retail Offer(3)

Record date - 13 September 2024
Expected dispatch of the Retail Offer documents and application forms - 19 September 2024
Retail Offer opens - 19 September 2024
Retail Offer closes - 4 October 2024
Allotment of Retail Offer shares on NZX and ASX, despatch of holding statements - 11 October 2024
Commencement of trading of shares on NZX - 11 October 2024
Commencement of trading of shares on ASX - 14 October 2024

Not for distribution or release in the United States.

This announcement may not be released or distributed in the United States. This announcement does not constitute an offer to sell, or the solicitation of an offer to buy, any securities in the United States or in any jurisdiction in which such an offer would be illegal. The offer and sale of shares under the Placement have not been, and will not be, registered under the U.S. Securities Act of 1933 (the “U.S. Securities Act”) or the securities laws of any state or other jurisdiction of the United States. Accordingly, such shares may not be offered or sold in the United States except in transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and any other applicable securities laws of any state or other jurisdiction of the United States.

Note: Currency in NZD unless specified otherwise
(1) Ex-dividend adjustment based on Auckland Airport’s FY24 final dividend of $0.065 per share declared as part of its FY24 full year results announcement on 22 August 2024.
(2) With the ability to accept oversubscriptions at Auckland Airport’s sole discretion, if required to allow participating shareholders to maintain their proportionate ownership, noting the Retail Offer individual application caps for eligible shareholders and regulatory restrictions.
(3) The timetable presented is indicative only and is subject to change without notice (subject to applicable laws and NZX Listing Rules and ASX Listing Rules). All dates and times are New Zealand times (unless stated otherwise).

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Announcement PDF