Shares in Tower fell to a two-month low after the insurer gave more guidance on its licensing requirements, raising concerns it may have to hold more cash on its balance sheet. The stock fell 3.2 percent to $1.79 after the Auckland-based company yesterday said it needs a minimum solvency margin of $80 million above minimum solvency capital from Aug. 16 …

Shares in Abano Healthcare climbed to a four-month high after the specialty health clinic investor said it had batted away an unsolicited proposal from an unnamed party alongside director Peter Hutson, and now faces a potential takeover bid. The stock jumped 11 percent to $6.51 after the Auckland-based company said it received and rejected an unsolicited non-binding indicative offer north …

Shares of telecommunications infrastructure owner Chorus bounced 5.9 percent when trading opened on the NZX this morning after Communications Minister Amy Adams announced a new way forward on the vexed issue of regulated pricing for copper network services. By mid-morning, Chorus shares were at $3.07, above their listing price of $2.94 in November 2011 for the first time since March. …