Source: Reuters Author: 01/27/2010
Subject Concerned: Airport
New Zealand airport operator Auckland International Airport Ltd plans to raise NZ$126.4 million (US$89.6 million) through an issue of new shares, the company said on Jan. 27.
It said it would offer eligible shareholders one new share for every 16 currently held at a price of NZ$1.65 each, a 14 percent discount to the company's last traded price.
The money raised is planned to part pay for the purchase of a stake in North Queensland Airports, which cost the company around NZ$166.7 million.
Shares in the company closed at NZ$1.92 on Jan. 26. So far this year the company has fallen around 3 percent.