NZE:PCT

Jarden Research Adjusts Precinct Properties New Zealand's Price Target to NZ$1.17 from NZ$1.16, Keeps at Neutral

Precinct Properties NZ & Precinct Properties Investments Partners With PAG in NZ$600 Million PwC Tower Deal

Precinct Properties NZ & Precinct Properties Investments (NZE:PCT) agreed to sell a 50% interest in Auckland's PwC Tower and form a new investment partnership with global firm PAG, according to a Tuesday New Zealand bourse filing.Under the sale and purchase agreement, the new partnership will acquire the asset for NZ$600 million. The equity component will be deferred for 18 months post-settlement and adjusted in line with the five-year swap rate.The company will continue operating as an investment and asset manager under a fee arrangement, the filing said. The proceeds will be used to repay bank debt and reduce pro forma gearing to 24% as of Dec. 31, 2025.The transaction is subject to Overseas Investment Office approval, with settlement anticipated in the first half of fiscal 2027.The company is concurrently advancing development planning for the asset, including pre-leasing, procurement, consenting, and funding, and has engaged contractor Built for early involvement through April 2027 to support a future investment decision, the filing added.

NZX Biggest Gainers

Here are the NZX-listed companies with the biggest gains on Friday.Tourism Holdings (NZE:THL): +22%, NZ$2.69Santana Minerals (NZE:SMI): +9%, NZ$0.68Green Cross Health (NZE:GXH): +5%, NZ$1.51EROAD (NZE:ERD): +5%, NZ$1.04Pacific Edge (NZE:PEB): +4%, NZ$0.28Michael Hill International (NZE:MHJ): +3%, NZ$0.40Serko (NZE:SKO): +3%, NZ$1.64Precinct Properties NZ (NZE:PCT): +2%, NZ$1.03PGG Wrightson (NZE:PGW): +2%, NZ$2.09Auckland International Airport (NZE:AIA): +2%, NZ$8.36

NZX Most Active Stocks

Here are the most actively traded stocks on New Zealand's Exchange on Monday.Vital Healthcare (NZE:VHP): 2.1 million sharesPrecinct Properties NZ & Precinct Properties Investments (NZE:PCT): 2 million sharesSpark New Zealand (NZE:SPK): 1.2 million sharesInfratil (NZE:IFT): 587,218 sharesAir New Zealand (NZE:AIR): 463,071 shares