Street Talk
UBS launches Auckland Airport block trade; funds pre-empt bookbuild
Updated
The equity capital markets team at UBS launched an $NZ800 million ($735 million) million block trade in Auckland International Airport shares on Thursday on behalf of Auckland Council.
Some $NZ300 million of the shares on offer had been pre-allocated to a select group of industry and pension funds at a weighted average price of $8.12. That represented a premium of 3.8 per cent to the last close.
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Sarah Thompson has co-edited Street Talk since 2009, specialising in private equity, investment banking, M&A and equity capital markets stories. Prior to that, she spent 10 years in London as a markets and M&A reporter at Bloomberg and Dow Jones. Email Sarah at sarah.thompson@afr.com
Kanika Sood is a journalist based in Sydney who writes for the Street Talk column. Email Kanika at kanika.sood@afr.com.au
Emma Rapaport is a co-editor of the Street Talk column. Prior to that, she was a markets reporter at The Australian Financial Review. Connect with Emma on Twitter. Email Emma at emma.rapaport@afr.com
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