Restrictions Lift for SkyCity’s Auckland Properties | Kalkine Market Update New Zealand |

The SkyCity Auckland property will now be allowed to conduct its operations without any restrictions on physical gathering and mass gatherings requirements from 8th October 2020, after the government decided to move Auckland from Alert Level 1 to Alert Level 2.

The company’s Queenstown and Hamilton properties were operational at Alert Level 1 since 22nd September 2020.

Retail Sales Up In September, A Significant Boost To The Confidence Level

The sales data collected from the retail sector for September shows a rise of 19.6% in sales as compared to the last year. However, overall sales from March to September saw a dip of 2.7%. Retailers with online presence showed better sales figure, and as a result, now 77% of retailers have started using online platforms.

Government wage subsidies have ended in September. In the survey, 85% of retailers have reported that they are not planning to reduce their current staff level. However, the governments’ decision to increase the minimum wage by $1.20 will certainly impact the sector, which is still going through the doldrums.

EROAD’s SPP Oversubscribed

EROAD Limited (NZX:ERD) has declared that its NZ$8 million Share Purchase Plan (SPP) has closed oversubscribed. The SPP got a strong response from shareholders and it received applications totalling about NZ$18.46 million.

Considering this substantial demand, the company has decided to accept oversubscriptions of NZ$3 million, increasing the size of the SPP to NZ$11 million. This SPP is a part of capital raising that was announced on 17 September 2020, which included a NZ$42 million placement.

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