NZ's Kiwi Property Group sees worst day in over 4 years on discounted share placement

Kiwi Property

30/10/2019 23:32

** Kiwi Property Group Ltd  KPG.NZ  falls as much as 4.79%
to NZ$1.610, its lowest since Aug 27
    ** The real estate investor announces completion of a NZ$180
mln ($115.36 mln) placement at a fixed price of NZ$1.58 per
share  urn:newsml:reuters.com:*:nNZW3NxWtq
    ** Shares on offer represent a discount of about 5.4% to its
last close on Oct 29
    ** Stock posts its biggest intraday pct fall since May 21,
2015
    ** Stock biggest percentage loser in the NZX 50 index
 .NZ50  
    ** Stock up 22.3% this year, as of last close, compared with
a 22.45% increase in NZX 50 index  .NZ50  

    ($1 = 1.5603 New Zealand dollars)

 (Reporting by A K Pranav)
 ((Pranav.AK@thomsonreuters.com;))