Prospectus released with report
The Bank of New Zealand yesterday issued a prospectus for its forthcoming cash issue, along with the annual report. Acceptances of the offer for the 50 cent shares with a 20c premium are due on
August 4. The bank also announced it would be seeking shareholders, permission to raise the $2OO million in. capital securities already announced by way of a replacement in U.S.-denominated securities in an overseas mar-
ket. “It is considered that overseas investors may provide the lowest cost and most efficient means of raising up to S2OOM in securities to fund the second element of the previously announced S6OOM capital-raising pro-
gramme by the Bank,” the chairman, Mr Frank Pearson, said. The issue was intended to be in the form of non-voting preference shares. The issue will be decided at the bank’s annual meeting on July 26.
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Press, 11 July 1989, Page 27
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144Prospectus released with report Press, 11 July 1989, Page 27
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