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.
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