$20.55m rights issue

Sharemarket operator NZX says it will raise $20.55 million in new capital from shareholders on a pro rata rights issue to pay for its recently announced acquisitions.

In recent weeks NZX has revealed plans to acquire energy market business M-co and rural publisher Country-Wide Publications. Yesterday, it said it planned to seek control control of small Australian equities market operator NSX.

NZX said last night that under the terms of the rights issue, shareholders would be offered one new share for every five they held. The exercise price was $4 and rights would be traded between Wednesday May 27 and June 15. NZX also said it had signed a bank facility with ASB Bank.