New Zealand's Savor sees worst day in over a year on discounted rights issue

Savor

31/01/2023 02:44

** Shares of Savor Ltd  SVR.NZ  fall as much as 8.3% to
NZ$0.44, set for their worst day since Dec. 23, 2021, if losses
hold
    ** Hospitality group to raise NZ$3.25 mln ($2.10 mln) of new
capital via a fully underwritten pro rata rights issue
    ** Rights issue at 42.9 New Zealand cents per share which is
at discount of 10.6% to stock's last close 
    ** Co's shares hits lowest since Jan. 20
    ** Shares are up 37.4% YTD as of last close
($1 = 1.5470 New Zealand dollars)
 (Reporting by John Biju in Bengaluru)
 ((John.Biju@thomsonreuters.com;))