Argosy Property, which recently bought two Wellington commercial properties, has raised $86.9 million in a rights issue and bookbuild to repay bank debt taken on for its recent acquisitions. The Auckland-based company sold 87.2 million shares at 89 cents apiece, or $77.6 million, to shareholders who exercised their rights in a 1-for-7 pro-rata renounceable offer, it said in a statement. …

MetService, the nation’s state-owned weather forecaster, paid $3 million for a 49 percent stake in privately owned New Zealand oceanographic consultancy MetOcean Solutions, giving it a foothold in a market worth more than $10 million. The purchase will allow Wellington-based MetService to expand its research capability and add customised oceanographic forecasting and consultancy expertise to its global offering. For MetOcean, …

Diligent Board Member Services, the governance app maker hit by a slew of administrative mis-steps, will restate how it has recognised revenue over the past three financial years, delaying publication of second-quarter trading, which it says will show slowing sales in the US. The New York-based company will restate financial statements for the 2010, 2011, 2012 financial years and the …