Pike River seeks to raise $50m
Pike River seeks to raise $50m
Hard-coking coal specialist Pike River Coal has announced further delays to production and export deliveries, but confirmed it is seeking up to $50 million in new equity.
Simon Hartley
Ex-franchise owner of Signature Homes in Otago bankrupt
Ex-franchise owner of Signature Homes in Otago bankrupt
The former franchise owner of Signature Homes in Otago - placed in voluntary receivership owing an estimated $1.3 million nine months ago - has been adjudged bankrupt in the High Court in Dunedin over a $64,000 debt.
Firm eyes 100 farms in South
Firm eyes 100 farms in South
The Chinese-backed company seeking to buy 29 North Island dairy farms is also trying to buy up to 100 farms in Otago and Southland and build a dairy factory in Southland.
Judgement against Hurricane
Judgement against Hurricane
Dunedin businessman Paul Nicholson - whose failed boutique finance company Hurricane House is in liquidation owing creditors $4.5 million - has had a summary court judgement made against him for an $87,000 debt to a finance company.
Manufacturing up, but some concern
Manufacturing up, but some concern
Manufacturing expansion was strong across the country in March - including positive gains for Otago - but the surge comes with a cautionary note on "catching up" with losses from the previous financial year.
Hurricane creditors may receive $1 million
Hurricane creditors may receive $1 million
More than $1 million is likely to be available to creditors of failed private-investment company Hurricane House, including three southern investment properties of company founder Paul Nicholson, of Dunedin.
Firms in South rally 25%
Firms in South rally 25%
The annual market capitalisation gains by 32 listed, South Island companies have risen by $835 million, or 25%, on a year ago, the Deloitte South Island index shows.
South Canterbury 'uncertainties'
South Canterbury 'uncertainties'
South Canterbury Finance's auditors have raised concerns there are uncertainties surrounding the giant southern finance company's funding, liquidity and capital as it strives to regain traction with an up to $1.25 billion capital-raising programme.
SCF seeking to attract $1.25 billion
SCF seeking to attract $1.25 billion
South Canterbury Finance - which last week booked an after-tax loss of almost $200 million for six months' trading - has released its long-awaited prospectus, seeking to raise up to $1.25 billion from investors to underpin its future.
Oceana investigating six potential gold deposits
Oceana investigating six potential gold deposits
Oceana Gold has identified six new potential gold targets at its open pit West Coast mine near Reefton, including one which could lead to underground mining in the area.
Pike cannot explain share rise
Pike cannot explain share rise
Shares in specialist hard coking coal miner Pike River Coal continued to rise yesterday, after a "please explain" notice from the New Zealand Stock Exchange following an almost 15% gain.
SC Finance expects to raise $600m in a year
SC Finance expects to raise $600m in a year
Troubled South Canterbury Finance has estimated it will raise almost $600 million in the year ahead as part of its major restructuring process, but has released details of more loss-making adjustments.
Blis gets $1m shot in arm
Blis gets $1m shot in arm
Dunedin-based Blis Technologies received a $1 million boost yesterday when shareholder Edinburgh Equity Nominee Ltd exercised an option to purchase one million preference shares at $1 each.
Botry-Zen to be delisted from exchange
Botry-Zen to be delisted from exchange
Receivers of Botry-Zen are delisting the Dunedin-based biotech company from the New Zealand stock exchange today and have advised there will be no payout to shareholders who have ploughed $12 million into the company since 1991.
BNZ opens Dunedin business centre
BNZ opens Dunedin business centre
Business lending by the BNZ around Otago rose 8% to almost $1.1 billion last year, a factor in prompting capital investment of more than $90 million nationally, in refurbished banks and 30 new business centres available to clients.
Commercial property to remain 'flat'
Commercial property to remain 'flat'
The southern commercial property market is expected to remain "flat through 2010" as it mirrors the national trend of clawing its way out of the recessionary trough.
Restaurant Brands' profits soar
Restaurant Brands' profits soar
Listed Restaurant Brands yesterday hit a forecast after-tax profit increase of 70% on strong performances from its KFC brand and a long-awaited turnaround of its Pizza Hut chain, capping a stellar share-price improvement.
South Canterbury debentures tipped
South Canterbury debentures tipped
South Canterbury Finance is expected to announce this week an offer of longer term debentures to offset a looming more than $1 billion "wall of maturities" due later this year.
Port Otago to spend $3.9million
Port Otago to spend $3.9million
Port Otago has brought forward some of its capital expenditure programme this financial year, ordering two new container straddle carriers for $2.9 million, alongside a $1 million refurbishment of its oil wharf facilities in Dunedin's upper harbour.
Queenstown, Central defy recession
Queenstown, Central defy recession
Tourism mecca Queenstown Lakes District has been one of the country's top performing economic regions for 2009 - and during the preceding decade - notching up "blistering growth", while the separate Central Otago District "weathered out" the economic downturn well.