NZ's MOA Group rises on capital raise to mitigate coronavirus impact

Savor

07/04/2020 02:02

** Shares of MOA Group Ltd  MOA.NZ  rise as much as 13.5% to
NZ$0.16, their highest since March 25
    ** The brewing and hospitality co announces a capital
raising for up to NZ$5.5 mln ($3.27 mln) at 14 cents per
share urn:newsml:reuters.com:*:nNZW7h9SlF
    ** Co says it is raising funds for additional balance sheet
strength as its hospitality business faces uncertainty amid
coronavirus fears
    ** Capital raise represents a discount of 1% to co's last
close
    ** Stock posts its biggest intraday percentage gain since
March 25
    ** Stock down 52.2% this year, as of last close

($1 = 1.6801 New Zealand dollars)

 (Reporting by R.R.Deepti Sri in Bengaluru)
 ((deepti.sri@thomsonreuters.com))