A "colossal" number of Auckland Airport shares are going up for sale to keep the airport going after the Covid-19 pandemic
A "colossal" number of Auckland Airport shares are going up for sale to keep the airport going after the Covid-19 pandemic
6 April 2020
It's announced a 1.2 billion dollar "Equity Raise" to help balance its sheets and keep capitalised for the short term.
One-billion-dollars in shares is being offered through investment banks, and a Share Purchase Plan worth 200-million-dollars is being offered to existing shareholders.
Herald Wellington business editor Hamish Rutherford says it's a massive amount - but there's some confidence it will work.
He says the investment banks have agreed to buy the shares themselves if they don't find buyers.
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