Air New Zealand’s share sale nets USD375m

Air New Zealand announced (19-Nov-2013) its share sale netted NZD365 million (USD375.05 million) with 221 million shares sold at a final share price of NZD1.65/share (USD1.38/share). New Zealand's Government has now reduced its 73% stake in the carrier to 53%. Air New Zealand will resume trading from 20-Nov-2013. The carrier's chairman Tony Carter said, "We have been very pleased to see this positive reaction to the increased availability of Air New Zealand shares." He continued, "It clearly recognises the value that has been created in recent years wit the right strategies and a great management team operating in one of the most challenging industries." [more - original PR]