Air New Zealand Rights and possible shortfall
Air New Zealand (AIR) aims to raise around US$827m (NZ$1.2bn) via a renounceable rights issue.The deal has been in the works for months and has been put off multiple times before owing to COVID-19 induced New Zealand (NZ) lockdowns.
In this note, we will run the deal through our ECM framework and talk about the recent updates.
Air New Zealand is engaged in the transportation of passengers and cargo on an integrated network of scheduled airline services to, from and within New Zealand. Through its subsidiaries, Co. is also engaged in aviation, aircraft leasing and financing, investments, and engineering services. Co.'s geographical segments are New Zealand, Australia and Pacific Islands, United Kingdom and Europe, Asia, and America.
Aequitas Research is a leading ECM research firm with a focus on IPOs and placements/follow-on offerings across the Asia Pacific with deal size of over USD100m.
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