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Crown completes sell down

November 20, 2013 Corporate No Comments Email Email

Air New Zealand notes the Crown has announced that it has completed the sell down of part of its shareholding in Air New Zealand. The Crown has sold just over 221 million ordinary shares, which represent approximately 20% of the issued ordinary shares in the Company, at a price of $1.65 per share.

Following completion of the sale the Crown’s holding of ordinary shares in Air New Zealand will represent approximately 53% of the Company’s ordinary shares.

“We have been very pleased to see this positive reaction to the increased availability of Air New Zealand shares. It clearly recognises the value that has been created in recent years with the right strategies and a great team operating in one of the most challenging industries”, said Air New Zealand’s Chairman, Tony Carter.

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