How New Zealand Markets Performed on May 25, 2020?

  • May 25, 2020 NZST
  • Team Kalkine
How New Zealand Markets Performed on May 25, 2020?

S&P/NZX50 ended the session in green as the index witnessed a rise of 1.06% to 10,776 while S&P/NZX20 closed by rising 1.24% to 7,249 on May 25, 2020. On the same day, S&P/NZX10 rose by 1.28% to 11,231.

S&P/NZX All Energy ended the session in green as there was an increase of 3.34% while S&P/NZX All Information Technology ended in red as there was a fall of 1.71%.

Let us now have a look at the performance of some stocks. On May 25, 2020, Truscreen Limited (NZX: TRU) witnessed a rise of 7.14% on an intraday basis to NZ$0.060 per share while Augusta Capital Limited (NZX: AUG) rose by 6.06% to NZ$0.700 per share.

On the other hand, SeaDragon Limited (NZX: SEA) ended in red as the stock price fell by 38.57% on an intraday basis to NZ$0.043 per share on May 25, 2020.

Recent Update by SKT

Sky Network Television Limited (NZX: SKT) has recently made an announcement that it has wrapped up $110.1 Mn institutional component of fully underwritten 2.83 for 1 pro-rata accelerated entitlement offer as well as NZ$9.1 Mn placement. The company added that a total of around NZ$157 Mn would be garnered under entitlement offer and placement.

The institutional entitlement offer and placement closed on May 22, 2020 and garnered combined gross proceeds amounting to NZ$119.2 Mn. Notably, both the tranches witnessed robust support from the company’s existing institutional shareholders as well as broader market.

Kiwi Property Reported Financial Results: A Quick Look

Kiwi Property Group Limited (NZX: KPG) made an announcement about financial results for the year ended March 31, 2020, and the company witnessed robust operating performance.

The company’s net rental income rose 3.4% to $186.8 Mn, contributing towards operating profit before tax of $129.7 Mn, up 4.2% as compared to the year before. FFO rose by 6.3% to $113.6 Mn, because of income growth throughout diversified property portfolio.

Kiwi Property stated that it has been working with tenants in order to share the fair proportion of financial impact which has been caused due to coronavirus.

Rent relief measures, which consists deferments as well as rent abatements, have been offered, with a focus towards helping small and medium sized businesses, and retailers, which were not able to function during lockdown.

 


Disclaimer
The website has been prepared for informational purposes only and is not intended to be used as a complete source of information on any particular company. The above article is NOT a solicitation or recommendation to buy, sell or hold the stock of the company (or companies) under discussion. Kalkine does not in any way endorse or recommend individuals, products or services that may be discussed on this site.

 

   
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