NZ's Heartland Group gains most in over 6 years on Heartland Bank-TSB Bank merger

Heartland group

02/06/2026 24:49

** Shares of New Zealand's Heartland Group HGH.NZ rise as much as 13.2% to NZ$1.29, post their biggest intraday pct gain since April 17, 2020
** Stock touches highest level since March 4
** Stock set for a third straight session of gains, if current trend holds
** Financial services firm reaches merger implementation agreement with Toi Foundation to merge Heartland Bank and TSB Bank
** Says under agreement, co to acquire from Toi Foundation all TSB shares on issue for approximately NZ$620 million ($367.91 million)
** YTD, HGH up 10.3%
($1 = 1.6852 New Zealand dollars)

 (Reporting by Aamir Sheik Khalid in Bengaluru)
 ((Aamir.SheikKhalid@thomsonreuters.com))