NZ stocks: Focus on Goodman battle

All eyes will be across the Tasman this week as the battle for Goodman Fielder gets under way.

But it will also be a busy week locally, with Tranz Rail due to seal its new financing arrangements, the Government giving an initial verdict on Air New Zealand and Qantas and another Dunedin company poised to list on the Stock Exchange.

Tranz Rail's $66 million five-for-seven renounceable rights issue closed on Friday.

The capital raising was part of a complex financial restructuring package.

As part of the execution of that package, the company's banking syndicate extended Tranz Rail's banking facilities through to this Friday.

From trains to planes: the Government has set itself a deadline of Wednesday for a preliminary decision on an equity tie-up between Air New Zealand and Qantas.

In Stock Exchange news, the exchange is set to get its second new listing from Dunedin in five weeks, in the shape of Pacific Edge Biotechnology.

Company spokesman Parry Guilford said a $3 million share issue would close on Wednesday, and the company was set to list on Friday.

Pacific Edge describes itself as using genetic analysis for the early detection of cancers.

The company springs from research work at Otago University.