Air New Zealand has successfully completed its $1.2 billion equity raise, which will be used to repay its government loan and strengthen its financial position for recovery.
Photo: AFP
A bookbuild for about 274 million shares, which were not taken up in the initial offer round, were oversubscribed and offered to existing and new investors at 81 cents each, which was a 28-cent per share premium over the initial offer price of 53 cents.
"The rights offer was structured to provide all eligible Air New Zealand shareholders with a fair opportunity to participate in the equity raise or receive value for their rights," Air New Zealand board chair Dame Therese Walsh said.
"We are delighted with the level of support shown for Air New Zealand by existing and new shareholders and to have been able to return value to those shareholders who did not or were ineligible to participate."
Trading of new shares issued under the capital raise rank equally with existing shares and were expected to begin trading on NZX and on ASX on Monday.