The following stocks may be active on the New Zealand exchange after developments since the close of trading. All prices are in New Zealand dollars unless specified.
Themes of the day: New Zealand's credit rating has been cut one notch by Fitch Ratings to AA from AA+, with the outlook stable, on concerns that the country's external debt may balloon if it doesn't narrow the current account deficit. Global equities were mixed as a slump in consumers and technology stocks on Wall Street offset improved U.S. economic data and the passing of the European Financial Stability Fund changes by Germany's parliament. The Standard & Poor's 500 Index fell 0.8% to 1,142.24, while Europe's Stoxx 600 gained 0.7% to 228.90.
Abano Healthcare Group (ABA): The listed healthcare investor and operator announced Trevor Janes will replace current chairman Alison Paterson after the annual shareholders’ meeting on Nov. 7. Paterson will remain a director for a further year 'to facilitate an orderly transition" the company said, and is due to retire at the 2012 annual meeting. ABA shares were unchanged yesterday at $4.05.
Auckland International Airport Ltd. (AIA): The country's busiest gateway announced plans to sell $100 million of six-year bonds to retail investors. Details of the unsecured notes are to be released next month, when the offer is to open, the company said in a statement. It hasn’t yet given the interest rate the bonds will pay. AIA shares rose 0.2% yesterday to $2.265.
Energy Mad Ltd. (MAD): The energy efficient light bulb marketer extended the closing date of its initial public offering until Oct. 12 after failing to reach its $5 million minimum sought by the closing date last week. The company is offering to sell shares at $1 apiece and would have up to 37.7 million quoted securities once the IPO was completed.
Goodman Fielder Ltd. (GFF): The trading halt on the food ingredient maker's shares has been lifted after the company completed the institutional component of its fully underwritten 5 for 12 pro-rata share offer. The shares, offered at 45 Australian cents apiece, raised approximately A$190 million with a 93% take up rate by institutional investors. The balance of the offer was cleared in bookbuild at A$0.50 per share. The retail component of the offer opens Oct. 4. GFF shares last traded at 76 cents before the halt.
NPT Ltd. (NPT): The real estate investment trust announced that it has unconditionally sold 36 Sel Peacock Drive property in Auckland for $7.301 million, with the settlement set to take place on Nov. 7. The sale was above the property valuation of $6.85 million, with the proceeds being put towards retiring some debt and invested in value add properties. NPT shares were unchanged yesterday at 48 cents.
Telecom Corp. (TEL): Telecom Corp., the country’s biggest phone company, announced that its wholesale unit has signed up retail rival CallPlus Group for its third-generation mobile services. CallPlus plans to use Telecom’s national mobile network to re-launch its mobile offering in a bid to win new customers. The telecommunications company has previously used Vodafone New Zealand network. TEL shares rose 1% yesterday to $2.55.
Warehouse Group (WHS): The merger of the retailer's Red Shed and Blue Shed head office functions will likely see 50 staff lose their jobs, according to a report by Fairfax Media. There are currently around 650 staff in the two divisions. Group chief executive officer Mark Powell said the company wanted more brand synergy, reduced operating costs and a simplified general merchandising structure. WHS shares were unchanged yesterday at $3.18.
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