Fairfax to pocket $530m from Trade Me float
The partial float of Trade Me has been priced at $2.70 a share, and Fairfax will walk away from the float with $530m.
The partial float of Trade Me has been priced at $2.70 a share, and Fairfax will walk away from the float with $530m.
Metlifecare, the retirement village operator, sold shares to institutional and experienced investors at a 7.1 per cent discount as part of its capital raising.
New Zealand shares were mixed in light trading as investors weighed the global risks, including the potential derailment of Europe's plan to staunch its debt crisis.
As the Trade Me float draws nearer, fund managers are being asked about demand for the shares, which may raise $300 million.
New Zealand shares rose yesterday, with OceanaGold, ANZ, Westpac and AMP leading the gains as equities reflected more optimism over Europe.
The 'New Telecom' - formed when its Chorus network business is split off in November will be the third biggest company on the NZX and a potential takeover target.