Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Sumitomo Mitsui Trust increases SkyCity holding

Sumitomo Mitsui Trust increases SkyCity holding

By Gavin Evans

Aug. 16 (BusinessDesk) - Sumitomo Mitsui Trust has acquired another 7.7 million shares in casino operator SkyCity Entertainment, lifting its relevant interest in the firm to 6.2 percent.

The company says extra shares acquired by its Nikko Asset Management business in Australia on Tuesday triggered the disclosure. It didn’t specify the price paid for the latest block of shares. The trust previously reported a 5.2 percent interest on May 11.

SkyCity shares reached a one-month high last week after the firm reported a better-than-expected 5.5 percent lift in full-year normalised operating earnings to $338.2 million.

The stock was recently at $4.14, down 3 cents from yesterday but up about 6 percent the past year. They traded as high as $4.19 on Friday, the most since July 5, according to NZX data.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Income Equality: Time To Double-Down On Cutting CEO Salaries

With reports of a slow-down in CEO pay rises last year, it’s time for Kiwi corporates to double down on cutting excessive salaries to ensure this is a trend not an accident, said Peter Malcolm, spokesperson for the income equality project Closing the Gap. More>>

Manawatu-Whanganui Projects: PGF Top-Up To Rural Broadband Roll-Out

The government has effectively raided the $3 billion Provincial Growth Fund to top up the budget for the second phase of its rural broadband initiative, filling in mobile 'black spots' and ensuring broadband is available to marae that don't have access now. More>>

ALSO:

Other Windy Cities: Auckland-Chicago Named A Top 10 ‘Most Exciting’ New Route

The inclusion of Auckland-Chicago on Lonely Planet’s Where to fly in 2019? The 10 most exciting new flight routes list comes just two weeks before Air New Zealand prepares to celebrate its inaugural flight to Chicago’s O’Hare International Airport on 30 November. More>>

Deadly Strain: ESR Ups Its Reporting On Meningococcal Disease

The increasing number of cases of Group W Meningococcal disease (MenW) has prompted ESR to increase its reporting on the disease to the Ministry of Health. ESR has upped its reporting to weekly. More>>

ALSO: