NZ's Metro Performance Glass falls on discounted capital raise

Metro Performance Glass

01/07/2025 24:22

** Shares of Metro Performance Glass MPG.NZ fall as much as 7.8% to NZ$0.047, hitting its lowest level since June 19

** Stock marks its biggest intraday pct drop since June 12

** Double-glazed window supplier to raise minimum of NZ$15 million ($9.14 million)

** Co says placement at issue price of 0.03 NZ cents per share

** Capital raising at 41.2% discount to stock's last close

** Stock down over 26% this year, including the day's move

($1 = 1.6410 New Zealand dollars)

 (Reporting by Rajasik Mukherjee in Bengaluru)

 ((Rajasik.Mukherjee@thomsonreuters.com))