ComCom confirms lower rates of return for network monopolies

Article – BusinessDesk

Oct. 30 (BusinessDesk) – The Commerce Commission has confirmed it is reducing the allowable rate of return on capital for regulated electricity and gas network monopolies in a move that Auckland network owner Vector says will place “further pressure … Read more »

Dorchester gets past 90% ownership threshold for Turners

Article – BusinessDesk

Oct. 29 (BusinessDesk) – Dorchester Pacific, the finance company, has reached the 90 percent threshold in its takeover of Turners Group, allowing it to mop up remaining shares in the car auction firm. Read more »

Pumpkin Patch accounts tagged over reliance on banker

Article – BusinessDesk

Oct. 29 (BusinessDesk) – Pumpkin Patch’s 2014 annual accounts were tagged by auditor PwC over the unprofitable childrenswear retailer’s reliance on bank funding to continue trading as a going concern. Read more »

Orion Health set to list on NZX Main Board and ASX

Press Release – Orion Health

Global healthcare software provider Orion Health Group Limited (Orion Health) has today registered a prospectus, under which it is looking to raise between $120 million and $150 million through the issue of new ordinary shares and under which interests … Read more »

NZX posts slower Q3 revenue growth as election weighed

Article – BusinessDesk

Oct. 29 (BusinessDesk) – NZX, the New Zealand stock exchange operator, said third quarter revenue growth almost halved from the year earlier pace as activity slowed ahead of September’s general election and the number of new listings declined. Read more »

Sanford expands executive team

Article – BusinessDesk

Oct. 29 (BusinessDesk) – Sanford, the country’s biggest listed fishing group, has expanded its management team to kick off structural changes under new chief executive Volker Kuntzsch. Read more »

Infratil executive Lib Petagna sells 3 million shares

Article – BusinessDesk

Oct. 28 (BusinessDesk) – Lib Petagna, the chief investment officer of HRL Morrison & Co which manages Infratil, has sold down his stake in the listed infrastructure investor, with Accident Compensation Corp’s investment portfolio taking up the majority … Read more »

MARKET CLOSE: NZX 50 rises to new record on yield hunt

Article – BusinessDesk

MARKET CLOSE: NZX 50 rises to new record on yield hunt; MRP, Spark, Sky TV gain Read more »

Opus flags $5.5M bill after missing out on project

Article – BusinessDesk

Oct. 28 (BusinessDesk) – Opus International Consultants, the listed engineering firm, flagged the loss of an undisclosed project will weigh on profit margins and cost it $5.5 million in the year. Read more »

CORRECT: Orion Health valued up to $915M in IPO

Article – BusinessDesk

Oct. 28 (BusinessDesk) – Orion Health Group, which develops software systems for patient health management, wants to raise up to $150 million in an initial public offer which would value the firm at almost a billion dollars and give public investors … Read more »

Pyne Gould late accounts to be tagged by auditor

Article – BusinessDesk

Oct. 28 (BusinessDesk) – Pyne Gould Corp, whose shares have been suspended from trading over the late filing of its annual accounts, says its annual report will be tagged by its auditor, which is still going through the asset management firm’s books and … Read more »

Nuplex names Holcim’s Cuthell as new CFO as Davis retires

Article – BusinessDesk

Oct. 28 (BusinessDesk) – Nuplex Industries, which last week announced the sale of two Australasian units to focus on global resins, named Holcim Australia’s Clive Cuthell as chief financial officer, replacing Ian Davis. Read more »

Goodman Property sells three Christchurch sites for $18.9M

Article – BusinessDesk

Oct. 28 (BusinessDesk) – Goodman Property Trust, the biggest listed property investor by market value, sold two industrial sites and an office building in Christchurch for $18.9 million to an undisclosed buyer. Read more »

Silver Fern turns to pretax profit, mulls capital structure

Article – BusinessDesk

Oct. 28 (BusinessDesk) – Silver Fern Farms turned to a pretax profit following losses the previous two years and signalled a reorganisation that may lead New Zealand’s biggest meat processor and marketer to change its capital structure. Read more »

Martin Jetpack seeks A$25M in ASX listing to fund plans

Article – BusinessDesk

Oct. 28 (BusinessDesk) – Martin Aircraft Co, which counts Jenny Morel’s No 8 Ventures among its shareholders, is looking to raise A$25 million in an ASX listing to fund plans which it says would make it the world’s first commercial jetpack manufacturer. Read more »

GPG’s Coats posts flat 3rd-quarter sales, affirms FY target

Article – BusinessDesk

Oct. 28 (BusinessDesk) – Guiness Peat Group’s Coats unit reported flat sales in the third quarter, affirming expectations annual profit will meet market forecasts, while the wider group continues to work through its outstanding UK pension liabilities. Read more »

MARKET CLOSE: NZX 50 rises to record, led by Sky TV on rugby

Article – BusinessDesk

MARKET CLOSE: NZX 50 rises to record, led by Sky TV on rugby rights; Spark, Ebos gain Read more »

Dorchester closes oversubscribed $30M capital raise

Article – BusinessDesk

Oct. 24 (BusinessDesk) – Dorchester Pacific, the finance company midway through a takeover for Turners Group, has closed its $30 million capital raising saying the offer was oversubscribed. Read more »

NZX says it doesn’t know why shares have declined

Article – BusinessDesk

Oct. 24 (BusinessDesk) – NZX, the stock market operator, said it doesn’t know why its share price has declined, in response to a query from its disciplinary arm. Read more »

Sky TV to launch $20/month subscription ondemand service

Article – BusinessDesk

Oct. 24 (BusinessDesk) – Sky Network Television, the country’s dominant pay-TV operator, will launch a new $20 a month subscription video ondemand service, Neon, in December, targeting non-Sky customers as it faces intensifying competition for viewers. Read more »

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