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IFT Infratil Ltd

11.53
0.21 (1.86%)
05 Dec 2024 - Closed
Delayed by 20 minutes
Share Name Share Symbol Market Type
Infratil Ltd ASX:IFT Australian Stock Exchange Ordinary Share
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  0.21 1.86% 11.53 11.51 11.58 11.63 11.40 11.44 328,395 05:12:07

Infratil Sells 3.87% Auckland International Airport Stake

09/11/2009 8:41pm

Dow Jones News


Infratil (ASX:IFT)
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New Zealand utilities investor Infratil Ltd. (IFT.NZ) said Tuesday it has sold its 3.87% stake in Auckland International Airport Ltd. (AIA.NZ).

The 47.4 million shares were sold via an institutional placement at NZ$1.84 per share and raised NZ$87.25 million, the company said in a statement.

Chief Executive Marko Bogoievski said the sale was consistent with recent capital management initiatives and will provide additional flexibility to fund current and future opportunities.

Infratil, in consortium with the New Zealand Superannuation Fund, is the exclusive bidder for a stake in Royal Dutch Shell PLC's (RDSA, RDSB, RDSB.LN) refining and retail assets in New Zealand.

Infratil said that since March 31, it has divested over NZ$215 million of non-core assets and raised over NZ$98 million of new capital.

The sale will result in a NZ$6 million gain in the fiscal year ending March, 31, 2010, Bogoievski said.

Auckland Airport shares closed Monday at NZ$1.93.

-By Simon Louisson, Dow Jones Newswires; 64-4-471-5990; simon.louisson@dowjones.com

 
 

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