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NZ govt sells 20% Air New Zealand stake

written by australianaviation.com.au | November 18, 2013
The NZ government is reducing its stake in Air New Zealand. (Terence Li via Air New Zealand)
The NZ government is reducing its stake in Air New Zealand. (Terence Li via Air New Zealand)

Air New Zealand shares are in a trading haft after the New Zealand government announced it is selling down its stake in the kiwi carrier from 73 per cent to about 53 per cent.

Shares in Air New Zealand were trading at NZ$1.65 before the trading halt, valuing the 20 per cent stake at about NZ$363 million. The shares are being sold through a book build process aimed at maximising the number of shares sold to New Zealand based investors, with an initial starting price for bids under the process set at NZ$1.60.

The book build process is expected to be completed on Wednesday, allowing share trading to resume.

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The New Zealand government in effect re-nationalised Air New Zealand following the Ansett collapse in September 2001, which saw it inject NZ$885 million into the airline.

25% off starts now! Australian Aviation magazine Cyber Monday sale is now live. Have the very best of Australian Aviation’s annual print and digital subscription. This includes every In Focus and Behind the Lens digital magazine, special coverage, exclusive photos and editions you may have miss. Subscribe now at australianaviation.com.au.

NZ govt sells 20% Air New Zealand stake

written by australianaviation.com.au | November 18, 2013
The NZ government is reducing its stake in Air New Zealand. (Terence Li via Air New Zealand)
The NZ government is reducing its stake in Air New Zealand. (Terence Li via Air New Zealand)

Air New Zealand shares are in a trading haft after the New Zealand government announced it is selling down its stake in the kiwi carrier from 73 per cent to about 53 per cent.

Shares in Air New Zealand were trading at NZ$1.65 before the trading halt, valuing the 20 per cent stake at about NZ$363 million. The shares are being sold through a book build process aimed at maximising the number of shares sold to New Zealand based investors, with an initial starting price for bids under the process set at NZ$1.60.

The book build process is expected to be completed on Wednesday, allowing share trading to resume.

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The New Zealand government in effect re-nationalised Air New Zealand following the Ansett collapse in September 2001, which saw it inject NZ$885 million into the airline.

25% off starts now! Australian Aviation magazine Cyber Monday sale is now live. Have the very best of Australian Aviation’s annual print and digital subscription. This includes every In Focus and Behind the Lens digital magazine, special coverage, exclusive photos and editions you may have miss. Subscribe now at australianaviation.com.au.

NZ govt sells 20% Air New Zealand stake

written by australianaviation.com.au | November 18, 2013
The NZ government is reducing its stake in Air New Zealand. (Terence Li via Air New Zealand)
The NZ government is reducing its stake in Air New Zealand. (Terence Li via Air New Zealand)

Air New Zealand shares are in a trading haft after the New Zealand government announced it is selling down its stake in the kiwi carrier from 73 per cent to about 53 per cent.

Shares in Air New Zealand were trading at NZ$1.65 before the trading halt, valuing the 20 per cent stake at about NZ$363 million. The shares are being sold through a book build process aimed at maximising the number of shares sold to New Zealand based investors, with an initial starting price for bids under the process set at NZ$1.60.

The book build process is expected to be completed on Wednesday, allowing share trading to resume.

Advertisement
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The New Zealand government in effect re-nationalised Air New Zealand following the Ansett collapse in September 2001, which saw it inject NZ$885 million into the airline.

25% off starts now! Australian Aviation magazine Cyber Monday sale is now live. Have the very best of Australian Aviation’s annual print and digital subscription. This includes every In Focus and Behind the Lens digital magazine, special coverage, exclusive photos and editions you may have miss. Subscribe now at australianaviation.com.au.

NZ govt sells 20% Air New Zealand stake

written by australianaviation.com.au | November 18, 2013
The NZ government is reducing its stake in Air New Zealand. (Terence Li via Air New Zealand)
The NZ government is reducing its stake in Air New Zealand. (Terence Li via Air New Zealand)

Air New Zealand shares are in a trading haft after the New Zealand government announced it is selling down its stake in the kiwi carrier from 73 per cent to about 53 per cent.

Shares in Air New Zealand were trading at NZ$1.65 before the trading halt, valuing the 20 per cent stake at about NZ$363 million. The shares are being sold through a book build process aimed at maximising the number of shares sold to New Zealand based investors, with an initial starting price for bids under the process set at NZ$1.60.

The book build process is expected to be completed on Wednesday, allowing share trading to resume.

Advertisement
Advertisement

The New Zealand government in effect re-nationalised Air New Zealand following the Ansett collapse in September 2001, which saw it inject NZ$885 million into the airline.

25% off starts now! Australian Aviation magazine Cyber Monday sale is now live. Have the very best of Australian Aviation’s annual print and digital subscription. This includes every In Focus and Behind the Lens digital magazine, special coverage, exclusive photos and editions you may have miss. Subscribe now at australianaviation.com.au.

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