New Zealand's NZME surges on potential divestment of unit, OneRoof

NZME

25/02/2025 23:10

** Shares of NZME Ltd NZM.NZ rise 11.5% to NZ$1.1600, their highest level since March 9, 2023

** Media and entertainment company reports potential spinoff of its property unit, OneRoof

** Company also posts HY EBITDA of NZ$54.2 million ($31.02 million), down 3.6% from last year

** NZM expects to deliver advertising revenue growth of 4% for the first quarter of 2025

** Stock up 9.4% YTD, including current session's moves

($1 = 1.7470 New Zealand dollars)

 (Reporting by Manasi Dasa in Bengaluru)

 ((Manasi.DasaSundeep@thomsonreuters.com))