Auckland International Airport Ltd’s $200 million share purchase plan closed heavily oversubscribed on Wednesday. Applications totalled $489 million and were scaled. The company will pay out refunds by next Friday.
The share purchase plan followed a $1 billion placement.
All new shares were priced at $4.66, a 7.5% discount to the last close price pre-placement.
The placement had been underwritten at a floor price of $4.50/share, representing a 10.7% discount to the last pre-placement close price of $5.04, a 12.6% discount to the $5.15 5-day volume-weighted average price – and less than half the price at the shares’ peak of $9.85 last June.
24 April 2020: As passenger count dives, Auckland Airport share plan closes today, company reshapes for domestic future
13 April 2020: Auckland Airport opens share purchase plan
7 April 2020: $1 billion airport share placement fully subscribed
7 April 2020: Auckland Airport seeks $1.2 billion, slashes capex
27 March 2020: Airport defers $2 billion of projects
18 March 2020: Air NZ halt share trading, Auckland Airport suspends guidance
Attribution: Company release.