NZ's Stride Property declines most over 1-1/2 year on 9.5% discounted placement

Stride Property

25/11/2021 21:59

** Shares of Stride Property Ltd  SPG.NZ  decline as much as
7.2 pct to NZ$2.05, set for their worst intraday session since
March 23, 2020
    ** Real estate investment management co raises NZ$110
million ($75.39 million) via underwritten placement  urn:newsml:reuters.com:*:nFWN2SG0MS
    ** Says increased the size of the placement from NZ$100
million to NZ$110 million after receiving strong demand in the
placement
    ** Issue price of placement at NZ$2.00, representing 9.5 pct
discount as of Wednesday's close
    ** Stock trades at its lowest since March 9; top percentage
loser in the S&P/NZX 50 index  .NZ50 
    ** Stock has fallen 6.4 pct YTD, as of last close, vs 2.3
pct decline in the S&P/NZX 50 index  .NZ50 
 ($1 = 1.4590 New Zealand dollars)

 (Reporting by Aneetta Thomas in Bengaluru)
 ((Aneetta.Thomas@thomsonreuters.com;))