ANALYSIS: A lot of money is raised on the secondary market, but parts of the process remain obscure.
Estimates of the advantages in consolidating water services are likely to be optimistic.
The NZX-listed company makes a tough business even harder for investors.
The buyer’s financing reveals some healthy returns on offer.
The $400m government scheme has a lot of work to do.
Fletcher Building goes fuzzy with $300m.
Companies may benefit from external scrutiny, even if they pay for it.
The company’s obscure sales model has turned into a major weakness.
The co-op’s restructuring proposal is ingenious, but difficult.
Westpac’s potential NZ spin-out should be a model for others.