NZ share prices give analysts the jitters, Watson company plans $US10m IPO, Stride’s flawed offer
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In NBR Print today: New Zealand’s share market keeps heading northward and is one of the top performers in the world, buoyed by large sums of KiwiSaver money and a low interest rate environment. But with global markets jittery and the local market getting more expensive by the minute, can the top performance continue? Macquarie portfolio strategy head James Grigor says New Zealand is in uncharted territory and it’s time to reassess the portfolio. Calida Smylie reports.
Meanwhile, uncertainty about the outcome of the UK’s EU referendum has shaken markets as the deadline looms for next Thursday’s vote. Michael Coote looks ahead to what the vote may bring.
Former Lion NZ boss Julian Davidson has been appointed chairman of an American company spearheaded by Eric Watson ahead of a planned IPO. Long Island Iced Tea is 29.4% owned by Mr Watson and 10% owned by a trust associated with his Hanover co-founder Mark Hotchin. Duncan Bridgeman reports.
Stride [NZX: STR], formerly DNZ Property Fund, arrived on the NZX in 2010 after a remarkable rescue effort that praised it from the grasp of a parasitical management contract. Six years later, the property company is again trying to imprison shareholders in a lemon-squeezing scheme, writes Tim Hunter.
A dispute over the sale of a trophy Queenstown property has been “amicably” settled, allowing the new owner to proceed with a “comprehensive development” it says will increase the value to $110 million. Hamish McNicol reports.
Sky TV [NZX: SKT] says its shareholders will be protected against any future tax challenge of Vodafone by the IRD if their merger goes ahead. Tim Hunter reports.
An Aussie economist has given a particularly bearish outlook for the New Zealand economy, picking a recession is a little more than a year away. Jason Walls reports.
All this and more in today’s National Business Review Print Edition. Out now.
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Staff Reporter
Fri, 17 Jun 2016
Fri, 17 Jun 2016
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NZ share prices give analysts the jitters, Watson company plans $US10m IPO, Stride’s flawed offer
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