Tag Archives: NZX

Snakk Media, the latest brainchild of Hyperfactory co-founder Derek Handley, has raised $6.5 million from an over-subscribed share purchase plan and private placement, which it will use both to fund its expansion and potentially takeover targets. The Auckland-based company raised about $5.9 million from the share purchase plan and $600,000 in a private placement to eligible investors at 12 cents …

Shares of Fisher & Paykel Healthcare, which has lifted its full-year guidance three times, rose to a two-year high after brokerage First NZ Capital raised its rating to “outperform” from “neutral”, citing prospects for better growth and higher margins. F&P Healthcare shares rose as high as $3.05, the highest level since May 23, 2011, when it touched $3.10. It was …

Summerset Group shareholder Quadrant Private Equity is selling down its 37.2 percent stake in the retirement village operator, taking advantage of the stock’s 34 percent advance this year. QPE Funds Management, the Quadrant unit that holds the shares, “is in the process of selling part of its shareholding,” Summerset said in a statement. QPE has asked Summerset to seek a …

New Zealand shares rose, pushing the NZX 50 Index to a new record high, as Fletcher Building recovered from a selloff sparked by an investor presentation last week and better retail data helped lift Kathmandu and Warehouse Group. The NZX 50 gained 25.49 points, or 0.6 percent, to 4621.72. Within the index, 29 stocks rose, 11 fell and 10 were …

A petition for a referendum on state asset sales has failed to garner enough signatures after double entries were weeded out and Labour has vowed to try to fill the gap over the next two months. The petition, promoted by Labour, the Greens and Grey Power, required 10 percent of eligible voters, or 308,753 signatures, to force a referendum. It …

Local retail investors won’t get a chance to buy into the NZX float of website software developer SLI Systems after the share offer was overbid by almost two-and-a-half times in the bookbuild by institutions. The Christchurch-based company plans to raise $15 million in an initial public offer at $1.50 apiece and a further $12 million from existing shareholders as it …

New Zealand shares fell as Fletcher Building, the biggest company on the NZX 50 Index by market value, left some investors at a Macquarie briefing in Sydney with the impression earnings would be at the low end of guidance. The NZX 50 fell 30.14 points, or 0.7 percent, to 4544.32. Within the index, 22 stocks rose, 19 fell and nine …

NZX has signalled an end to its unconventional dividend policy, which has tied the stock market operator to stepped increases of not less than 1 cent a share since 2009. The Wellington-based company today declared a first-quarter dividend of 1.25 cents a share and expects to pay 5.6 cents for the year. That’s based on a dividend policy introduced in …

Air New Zealand’s shares jumped 5.6 percent after the national carrier flagged its annual earnings will more than double this year. The Auckland-based airline expects normalised annual pre-tax earnings, which strips outs unrealised movements in derivatives used to hedge its exposures, to be between $235 million and $260 million in the 12 months ended June 30. That compares to the …

Contact Energy shares dropped almost 6 percent in early NZX trading, with the company saying it was “hard to see” how it would have justified investing $2.5 billion in new power plants if the Labour-Greens electricity policy had been in place. In a statement not issued to the NZX but received by BusinessDesk, Contact chief executive Dennis Barnes says “under …