Looking for fresh money to deleverage their balance sheet and support their growth strategy:
1 new share at $4.25 for every 1.5 shares holding.
http://nzx-prod-s7fsd7f98s.s3-websit...674/290279.pdf
I guess considering that their debt to equity ratio is closer to the upper boundary of what's sensible in potentially a bit roughter times to come and considering that these times might offer as well some aquisition opportunities - probably a wise move.
Market so far seems to take the news in its stride - already expected?
Could (obviously after going ex-rights) well form the bottom for the trend to change ...