Warminger was under pressure over poor fund performance

Article – BusinessDesk

Sept. 26 (BusinessDesk) – Milford Asset Management portfolio manager Mark Warminger was under pressure from the firm over the performance of funds he managed at the time of his alleged market manipulation, the Financial Markets Authority has said … Read more »

Nurofen NZ response to Commerce Commission statement

Press Release – Nurofen

September 26th 2016: Nurofen NZ acknowledges the statement by New Zealand Commerce Commission that it has filed charges under the Fair Trading Act 1986 relating to the marketing of its specific-pain range in the Auckland District Court today. The … Read more »

Charges laid over Nurofen specific pain range painkillers

Press Release – Commerce Commission

Reckitt Benckiser (New Zealand) Limited (RBNZ) faces 10 charges brought by the Commission alleging it misled the public about the nature, characteristics and suitability of its Nurofen specific pain range products. Read more »

IkeGPS completes $3M capital raise

Article – BusinessDesk

Sept. 26 (BusinessDesk) – IkeGPS, the laser measurement toolmaker, has completed $3 million of capital raising to help fund its push into international markets, with about three-quarters picked up by the sub-underwriters. Read more »

Augusta pays premium to take 9.3% stake in NPT for $11 mln

Article – BusinessDesk

Sept. 26 (BusinessDesk) – Augusta Capital paid 14 percent above the market price to take a 9.3 percent stake in listed property investor NPT. Read more »

Comvita board proposes increased fee pool

Article – BusinessDesk

Sept. 23 (BusinessDesk) – The board of Comvita, the manuka honey products company, is proposing to increase its pool for directors’ fees so it can hire a new director with technology experience. Read more »

New agreement for AFT Pharmaceuticals with Belgian Pharma

Press Release – AFT Pharmaceuticals

AFT Pharmaceuticals (AFT) has executed an alliance agreement with privately-owned pharmaceutical company, Therabel Pharma NV (Therabel), to license the product line of its patented combination painkiller, Maxigesic, to Belgium and Luxembourg. Read more »

King Salmon to sell shares at $1.12 apiece in IPO

Article – BusinessDesk

King Salmon to sell shares at $1.12 apiece in IPO, raising $77.5 mln Read more »

Veritas forecasts revenue drop in 2017

Article – BusinessDesk

Sept. 23 (BusinessDesk) – Veritas Investments says revenue will drop in 2017 as Mad Butcher sales continue to fall, while its bank has extended its lending facilities beyond next year. Read more »

New Zealand King Salmon IPO Confirmed

Press Release – New Zealand King Salmon

Following a successful bookbuild process, the worlds largest aquaculture producer of King salmon today (23 September) lodged its Product Disclosure Statement (PDS) for an initial public offer of 69.2 million ordinary shares (the Offer). Read more »

Hellaby – Equipment Sale Unconditional

Press Release – Hellaby Holdings

Hellaby Holdings Limited (NZX: HBY) advises that the sale of its Equipment Group to Maui Capitals Aqua Fund for $81 million, is now unconditional. Settlement is scheduled to occur on 30 September 2016 Read more »

Commission recommends deregulating wholesale voice services

Press Release – Commerce Commission

The Commerce Commission has today released a report for consultation indicating its intention to recommend to the Minister for Communications that Sparks resale voice services be deregulated. Read more »

Investors punish Tower stock on ongoing quake exposure

Article – BusinessDesk

Sept. 22 (BusinessDesk) – Sept. 21 (BusinessDesk) – Tower’s stock gained today after a report the general insurer could be a takeover target but the insurer has shed half its value in the past 12 months on signs prolonged exposure to Canterbury earthquake … Read more »

OIO approves Fairfax/NZME merger

Article – BusinessDesk

Sept. 22 (BusinessDesk) – The Overseas Investment Office has approved the proposed merger between Fairfax Media’s New Zealand assets and NZME, although the deal still needs NZME shareholder and Commerce Commission approval to go ahead. Read more »

Kiwi entepreneurs seek US$5 mln investmen

Article – BusinessDesk

Sept. 22 (BusinessDesk) – Gung Ho! Pizza, founded by Kiwi entrepreneurs Jade Gray and John OLoghlen, is seeking US$5 million to help expand the brand in Ikea malls as they roll out around China. Read more »

NZ Merino takes full ownership of joint venture

Article – BusinessDesk

Sept. 21 (BusinessDesk) – New Zealand Merino Co is to take full control of its brand of merino meat, which was previously owned fifty-fifty in a joint venture with Silver Fern Farms. Read more »

IkeGPS mulls acquisitions with residual capital raised

Article – BusinessDesk

Sept. 21 (BusinessDesk) – IkeGPS, the laser measurement toolmaker, could use funds left over from the $8 million raised in the past two months to make acquisitions and may look to raise more capital, as it works towards dual-listing on the Australian … Read more »

Scholarship announced to mark 25 years milestone

Press Release – Auckland Chamber of Commerce

The Auckland Chamber of Commerce has established a research scholarship to mark Michael Barnetts 25 years of leadership of the Auckland Chamber of Commerce. Read more »

Synlait completes institutional component of rights offer

Article – BusinessDesk

Sept. 21 (BusinessDesk) – Synlait Milk, the NZX-listed dairy company, has completed the institutional component of its rights offer, raising about $59 million. Read more »

Sale to China of Silver Fern Farms a Reward for Deceit

Press Release – New Zealand First Party

The governments approval today for Silver Fern Farms to sell 50 per cent to Chinese company Shanghai Maling is nothing more than a reward for deceitful misrepresentation. Read more »

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