How Markets in New Zealand Performed?

On June 18, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 0.97% to 11,225 and S&P/NZX20 fell by 1.12% to 7,504. Notably, on the same day, S&P/NZX10 encountered a decline of 1.14% to 11,689.

On June 18, 2020, S&P/NZX All Information Technology ended the session in green as there was a rise of 4.47% and S&P/NZX All Communications Services fell by 2.55%.

The stock price of Pushpay Holdings Ltd (NZX: PPH) rose by 8.67% on an intraday basis to NZ$8.150 per share. On the other hand, the stock of Tourism Holdings Limited (NZX: THL) fell by 6.54% to NZ$2.000 per share.

SKC Rose By 1.87% on June 18, 2020

SkyCity Entertainment Group Limited (NZX: SKC) has made an announcement that the company has wrapped up $180 Mn institutional placement as part of $230 Mn equity raising announced on June 17, 2020. The placement of 72 Mn new, fully paid ordinary shares was fully subscribed and this was done at the fixed price of $2.50 per share.

The company stated that placement was sized to match the proportion of SKC’s shares owned by institutional investors. As at June 16, 2020, 79% of SKC’s shares were owned by institutional shareholders and the size of placement implies 78% of total equity raising of $230 Mn. The placement was strongly supported by the existing institutional shareholders as well as also attracted significant bids from other institutional investors.

The following image shows how the stock price of SKC has trended in the span of 90 days:

Stock Performance (Source: NZX)

Stock Performance (Source: NZX)

A Recent Update By WBC

Westpac Banking Corporation (NZX: WBC) made an announcement about successful completion of offer of around 31 Mn shares in Pendal Group Limited (ASX: PDL) at the price of $5.98 per share. Notably, it represented 4% discount to closing Pendal share price on June 17, 2020.

PEB Rose by 17.02%

As per the release dated June 17, 2020, Pacific Edge Limited (NZX: PEB) and US healthcare provider, Kaiser Permanente, have reached an agreement for commercial use of PEB’s Cxbladder tests. The release also stated that Kaiser Permanente has approved commercial use of Cxbladder by their urologists. This would be for the patients being evaluated for bladder cancer.


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