As per the attached notice, Freightways has issued 43,000 ordinary shares to Freightways Trustee Company Limited, as trustee of the Freightways Employee Share Plan (the 'Share Plan'), in satisfaction of acceptances of an offer made to employees to participate in the Share Plan.
The S&P/NZX 50 Index closed at 12,266.25, gaining 57.2 points or 0.47%.
Goldman Sach analysts have a 12-month target price of A$2.85 ($3.14).
An investment firm bought the stake, which included 116,145 hectares of forestry.
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