$200M shares redeemed
PA Wellington The Bank of New Zealand said it has fully redeemed $2OO million worth of preference shares issued to the Government last June. It redeemed the shares with cash raised from a seven-for-10 rights issue, the results of which were announced on Monday, the bank said. It now has 1.40 billion
50c shares. The Government bought the BNZ shares to boost the bank’s capital until it raised $405 million from the rights issue. The moves were part of a restructuring announced after BNZ revealed a $648.8 million net loss after extraordinaries in the year ended March 31, against the previous year’s $198.97 million profit.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19890831.2.164.8
Bibliographic details
Press, 31 August 1989, Page 38
Word Count
108$200M shares redeemed Press, 31 August 1989, Page 38
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in