On June 12, 2020, S&P/NZX50 ended the session in red as the index witnessed a fall of 2.23% to 10,906 while S&P/NZX20 fell by 2.22% to 7,272. On the same day, S&P/NZX10 encountered a fall of 2.31% to 11,251.
S&P/NZX All Materials ended the session in red as there was a fall of 4.70% and S&P/NZX All Consumer Discretionary declined by 4.69%.
The stock of AFC Group Holdings Limited (NZX: AFC) ended the session at NZ$0.002 per share. The share price of Blackwell Global Holdings Limited (NZX: BGI) rose by 50% to NZ$0.015 per share. On the other hand, the stock of Pushpay Holdings Ltd (NZX: PPH) fell by 1.77% to NZ$7.200 per share.
The following image provides a broad overview as to how the stock price of SKT has trended in the past 90 days:
Movement of SKT’s Stock Price (Source: NZX)
A Look at Recent Update by SKT
Sky Network Television Limited (NZX: SKT) came forward and notified the market that it has wrapped up retail entitlement offer component of fully underwritten 2.83 for 1 pro-rata accelerated entitlement offer of new fully paid ordinary shares.
- A total of around NZ$157.2 Mn would be garnered under the entitlement offer as well as institutional placement which was notified on May 21, 2020.
- Retail entitlement offer witnessed robust support from eligible retail shareholders. Notably, effective take up rate (which includes allocations via oversubscription facility) stood at 68 percent.
PCT Releases Quarterly Update
Precinct Properties New Zealand Limited (NZX: PCT) has recently released a quarterly update in which the company stated that there have been numerous challenges because of coronavirus pandemic. The company focused towards business continuity. This involved planning ahead as well as adjusting the operations to operate safely under different alert levels as Government announced changes.
The company also added that while there is still uncertainty within the economy, its high quality client base, high occupancy as well as long term weighted average lease term provides confidence of meeting the full year dividend guidance.
The company’s Board has reaffirmed full year dividend of 6.30 cps, which implies 5.0% YoY increase in dividend to the shareholders. Notably, its FY 2020 annual results would be released on 13th August 2020.