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10 stories mentioning NZE:CVTUpdated 10d ago

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Asia

New Zealand Shares Flat; Fletcher Building Secure NZ$60 Million Government Deal for Golden Bay Cement

New Zealand shares were flat on Monday despite a surge in oil prices in the wake of the escalating conflict in the Middle East.The S&P/NZX 50 Index was little changed to close at 13,696.03.Brent crude oil futures rose around 2% to over $90 per barrel. The US and Iran continued to trade strikes for over a week after an earlier ceasefire seemed to break down.In domestic news, New Zealand recorded a goods trade surplus of NZ$22.7 million in June, compared with a surplus of NZ$576.8 million in May, Stats NZ data showed. Goods exports rose 25% to NZ$8.09 billion, while imports rose 28% to NZ$8.07 billion.In corporate news, Fletcher Building (ASX:FBU, NZE:FBU) said New Zealand's government granted its Golden Bay Cement unit up to NZ$60 million as part of an agreement to support the subsidiary's continued operations in the country.Comvita (NZE:CVT) appointed Emma Blott as chief commercial officer, starting July 6.

^NZ50ASX:FBUNZE:CVTNZE:FBU
Asia

Comvita Appoints Chief Commercial Officer

Comvita (NZE:CVT) appointed Emma Blott as chief commercial officer, starting July 6, according to a Monday filing with the New Zealand bourse.

NZE:CVT
Asia

Fraser and Neave Unit Secures Nearly 20% Stake in New Zealand-Based Comvita

Fraser and Neave's (SGX:F99) subsidiary, F&N Ventures, subscribed to around 26 million shares in New Zealand-listed Manuka honey producer Comvita (NZE:CVT) for NZ$18.8 million, according to a Tuesday filing with the Singapore Exchange.Shares of the food and beverage company were down nearly 1% in Wednesday trading.The transaction was conducted as part of Comvita's recent entitlement offer and is expected to settle formally on May 18.Pursuant to the transaction, F&N Ventures will acquire a 19.99% stake in Comvita, the filing said.

NZE:CVTSGX:F99
Asia

New Zealand Shares Fall; Property for Industry Raises Fiscal Year 2026 Outlook

New Zealand shares ended lower on Tuesday as investors saw fading hopes of a US-Iran peace agreement.The S&P/NZX 50 Index fell 0.99% or 130.15 points to close at 13,080.33.US President Donald Trump said that the US ceasefire with Iran was "on life support" after Iran rejected a peace proposal by the US and insisted on its own list of demands, according to a Tuesday Reuters report.In domestic news, home property values in New Zealand held steady in April, showing no sense of urgency in the market, albeit with buyers having become increasingly cautious amid rising economic and political uncertainty, QV said.Also, light traffic in New Zealand fell about 1.7% in April, signaling softer demand as higher fuel prices made people more wary of driving, ANZ Research said.Meanwhile, New Zealand's seasonally adjusted volume of ready-mixed concrete rose 1.1% in the March quarter, following a 2.7% rise in the preceding three-month period, Stats NZ data showed.In corporate news, Property For Industry (NZE:PFI) has updated its fiscal year 2026 guidance and now expects to pay cash dividends of around NZ$0.095 per share, up from its previous guidance of at least NZ$0.0905.Comvita (NZE:CVT) successfully completed a NZ$40.5 million capital raise, including NZ$30 million from a pro-rata renounceable rights offer and a further NZ$10.5 million through a strategic placement.

^NZ50NZE:CVTNZE:PFI
Asia

Comvita Secures Nearly NZ$41 Million Through Rights Offer, Strategic Placement

Comvita (NZE:CVT) successfully completed a NZ$40.5 million capital raise, including NZ$30 million from a pro-rata renounceable rights offer and a further NZ$10.5 million through a strategic placement, according to a Tuesday filing with the New Zealand bourse.The rights offer received strong backing from shareholders, with eligible investors subscribing for 31.8 million shares and the company accepting a further 1.5 million shares via the oversubscription facility, bringing the participation to 72%, per the filing.F&N Ventures, a subsidiary of Fraser and Neave, will become a strategic investor in the company with a 19.99% stake as part of the transaction, the filing said.The company expects settlement and allotment of the new and placement shares on May 18, the filing added.

NZE:CVT
Asia

New Zealand Shares Rise; Comvita Rights Offer Meets NZ$25 Million Minimum Capital Raise Requirement

New Zealand shares ended higher on Thursday amid a broad-based rise in Asian shares as investors welcomed hopes of a US-Iran peace deal.The S&P/NZX 50 Index rose 0.95% or 125.42 points to close at 13,270.61.Iran said it was reviewing a peace proposal from the US on Wednesday, while US President Donald Trump said it's "very possible" that the two countries will come to a deal, according to a Wednesday Reuters report.In domestic news, the national average rent in New Zealand saw a 1.4% decline to NZ$631 per week in April, compared with NZ$640 per week during the same time last year, and almost NZ$30 below the highest recorded rent in May 2024 of NZ$660 per week.Also, the Organisation for Economic Cooperation and Development said New Zealand should reconsider how often it changes the Reserve Bank's remit, warning that frequent adjustments increase the risk of monetary policy errors, according to a Thursday statement by the international organization.In corporate news, Comvita (NZE:CVT) confirmed that it has satisfied the minimum capital raise requirement of NZ$25 million for its pro-rata renounceable rights offer, driven by strong shareholder participation and Fraser and Neave's nearly 20% shortfall commitment.Santana Minerals' (ASX:SMI, NZE:SMI) wholly owned subsidiary, Matakanui Land, has been approved by New Zealand's Overseas Investment Office to acquire land across Bendigo and Ardgour stations, clearing the way for the company's proposed gold mining project.

^NZ50ASX:SMINZE:CVTNZE:SMI
Asia

Comvita Rights Offer Meets NZ$25 Million Minimum Capital Raise Requirement

Comvita (NZE:CVT) confirmed that it has satisfied the minimum capital raise requirement of NZ$25 million for its pro-rata renounceable rights offer, driven by strong shareholder participation and Fraser and Neave's nearly 20% shortfall commitment, according to a Thursday filing with the New Zealand bourse.The acceptance reached about NZ$13.2 million by Wednesday, representing around 44% shareholder take-up and exceeding the roughly 36% required threshold, per the filing. Eligible shareholders have until Thursday to participate.The company has cleared the key condition for its refinancing plan, which involves using the proceeds to repay existing bank debt, the filing added. The plan is now expected to become effective soon after settlement.

NZE:CVT
Asia

New Zealand Shares Fall; Genesis Energy Posts Lower Fiscal Q3 Retail Electricity Sales

New Zealand shares ended lower on Thursday as most Asian indexes saw losses after shipping worries continued around the Strait of Hormuz.The S&P/NZX 50 Index fell 0.47% or 60.67 points to close at 12,884.93.Iran seized two ships in the Strait of Hormuz, tightening its control over the strategic waterway after US President Donald Trump said he was indefinitely suspending attacks, with no indication that peace negotiations would resume, according to a Thursday Reuters report."Markets look very on edge here. We are still in a no-war, no-peace zone, and that means even an ⁠unverified scare of escalation can jolt oil and knock risk assets lower," said Charu Chanana, chief investment strategist at Saxo, as quoted by Reuters.In domestic news, Moody's has revised its outlook on New Zealand's AAA credit rating to negative from stable in a move that again signals a need for checks on spending and borrowing, Finance Minister Nicola Willis said.Further, credit card spending in New Zealand increased by 0.7% month on month to NZ$4.87 billion in March after a 0.1% increase in the previous month, while credit card balances fell 0.5% to NZ$6.08 billion in March, data from the Reserve Bank of New Zealand showed.Also, sales volumes continued to decline across New Zealand's housing market for the third consecutive month in March, down 2.4% year-over-year, Cotality saidIn corporate news, Genesis Energy (ASX:GNE, NZE:GNE) reported total retail electricity sales of 1,380 gigawatt-hours (GWh) for the fiscal third quarter ended March 31, down from 1,474 GWh in the same quarter a year earlier.Comvita (NZE:CVT) launched a pro-rata renounceable rights offer to raise up to NZ$30 million to support bank refinancing.

^NZ50ASX:GNENZE:CVTNZE:GNE
Asia

Comvita Launches NZ$30 Million Rights Offer

Comvita (NZE:CVT) launched a pro-rata renounceable rights offer to raise up to NZ$30 million to support bank refinancing, according to a Thursday filing with the New Zealand bourse.The offer allows eligible shareholders to purchase one new share for every 1.53 existing shares held at NZ$0.65 apiece, a 2.7% discount to the theoretical ex-rights price of NZ$0.67, per the filing.Shareholders may trade rights on the New Zealand Exchange, and those who fully subscribe can apply for extra shares via an oversubscription facility, though allocation is not guaranteed, the filing added.

NZE:CVT
Asia

Fraser and Neave to Invest in New Zealand's Comvita for 20% Stake

Fraser and Neave (SGX:F99) plans to invest up to NZ$20.1 million in the fundraising of Comvita (NZE:CVT), a provider of manuka honey and natural health products, according to a Wednesday filing with the Singapore Exchange.Under the deal, Fraser and Neave subsidiary F&N Ventures will act as the sole underwriter of Comvita's renounceable entitlement offer to raise around NZ$30 million at NZ$0.65 per share.The investment will give the food and beverage company a shareholding of around 19.99% in Comvita.

NZE:CVTSGX:F99

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