Air New Zealand shareholders who didn't take up shares in the airline's capital raise will get 28c for each of their shares.
The airline today announced that it has completed the shortfall bookbuild component of its 2 for 1 pro rata renounceable rights offer.
The price represents a premium of 28c a share over the offer price of 53c a share.
The bookbuild of 274 million shares was supported by existing shareholders and new investors and a price of 81c per share was determined the same as a theoretical ex-rights price the airline set for its shares at the start of the capital raise.
A total of $1.2 billion was raised under the rights offer and shortfall bookbuild. These proceeds will be used to repay the airline's existing Crown loan, strengthen its balance sheet, improve liquidity and help position the airline for recovery. It will raise a further $1b in debt.