Business briefs: Warehouse raises capital

Last updated 15:49 10/04/2014

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The Warehouse completes capital raising 

The Warehouse has completed its $115 million capital raising, consisting of a $100m placement and a $15m share purchase plan.

The retailer said the capital raised will strengthen its balance sheet.

The placement on March 7 was taken up by local and Australian institutions and New Zealand retail investors. Applications for the share purchase plan were made up of $10.8m from eligible investors and $4.2m from underwriter Deutsche Craigs.

Abbott Group in growth mode post quakes
Canterbury insurance brokerage, Abbott Group, has sold a 25 per cent stake to SBS Bank subsidiary Southsure Assurance to fund growth.
 
Chairman Graham Heenan said the company is committed to growth in new markets to complement its Christchurch, Nelson and Wellington operations.
 
"It's more than a cash injection. Southsure's investment signals a new strategic partnership between two parties with a similar client-servicing focus and a commitment to local communities."

Vodafone supports Solomons
Vodafone will credit its New Zealand customers' calls and texts to the Solomon Islands following last week's floods and earthquake.

This includes mobile, residential and business calls made to landlines and mobile phones in the Solomon Islands. The retrospective credit will apply to calls and texts made from Friday April 4, (0:00:01) to Sunday April 6, (23:59:59) and will be applied to customers' accounts.

Matt Williams, Vodafone consumer director, says it is vitally important for people to be able to communicate with family and friends in a time of crisis.

PayWave on way for Foodstuffs
Shoppers at Foodstuffs' 700 Pak'n'Save, New World and Four Square stores will be able to pay using Visa payWave from late this year.

Cardholders will be able to wave a Visa payWave-enabled card in front of the payment terminal for amounts under $80 without needing to sign or use a PIN.

Foodstuffs NZ managing director Steve Anderson said contactless payments will start to be rolled out at Foodstuffs stores in late 2014 as the new technology at check out lanes is installed.

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- Fairfax Media

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