Shares in Wellington Drive Technologies have halved in value after the company said it was looking to raise $8.4m to fund operations.

The directors of failed company Hanover Finance are to face questions as part of a Serious Fraud Office probe, the office confirmed yesterday.

The Australian share market closed steady yesterday after regaining early losses as investors bought into stocks weakened by concerns about European sovereign debt and tensions on the Korean peninsula.

The New Zealand dollar slowly recovered yesterday after it fell to its lowest level against the greenback in nearly four weeks overnight after a shelling exchange on the Korean peninsula added to the US currency's appeal as a safe haven.