Air NewZealand shareholders sought

Air New Zealand shareholders who did not participate in the company’s $1.2 billion rights offer will get 28 cents for each share they owned. Air New Zealand’s rights offerwas 88% subscribed when it closed on Monday, and on Wednesday the company began a shortfall bookbuild to find owners for 274million shares that were not taken up under the offer. It said the bookbuildwaswellsupported, with all remaining shares taken up at a price of 81c per share representing a premium of 28c per share over the offer price of 53c per share. This meant that shareholders who elected not to take up their entitlements would receive 28c per share they owned. Payment is expected to be made to those shareholders by May 16.