0409 GMT - New Zealand's NZX-50 index closed 1.8% lower at 12307.27 as Ryman Healthcare's stock sank on its first day of trading after raising around NZ$1 billion of equity. Ryman issued new shares at a 29% discount to its closing price at the end of last week before trading was halted temporarily to allow the raising to happen. Ryman's share price fell 29% on Tuesday after that trading halt was lifted. Other retirement-village stocks followed it lower, with Oceania Healthcare declining by 5.7% and Summerset falling 2.3%. Two companies reporting 1H earnings ended in the red, with Mercury NZ falling 5.0% despite leaving its full-year guidance unchanged. Tourism Holdings retreated 6.6% after warning that its underlying net profit may not rise in FY 2025. (david.winning@wsj.com; @dwinningWSJ)
(END) Dow Jones Newswires
February 24, 2025 23:09 ET (04:09 GMT)
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