Nuplex shares have almost tripled in value in recent days and investors are expected to gain confidence in the fully underwritten $132 million new share issue, outlined in a letter to shareholders yesterday.
Whiteware manufacturer Fisher and Paykel Appliances has confirmed it will be the latest tenant in the Dunedin City Council's Wall Street retail development in George St and will be installing at least 130 design and call-centre staff there by late June.
Glass Earth Gold's blanket mining permit in Otago, the largest in the country, is impeding other gold miners from gaining prospecting and exploration permits at a time gold has hit record prices.
For a third time in seven days, a Dunedin business has succumbed to the recession, with the shareholders of Honda Otago placing the business in the hands of liquidators on Tuesday, with the loss of nine jobs.
"Several tenders" have been lodged for the purchase of Dunedin's nine-storey former chief post office in Princes St.
Containers from Otago exporters are being left on Port Chalmers wharves by over-booked shipping lines and the lack of export space on ships is at its worst level in 20 years, Dunedin's largest freight company says.
Seven redundancies have been confirmed in the Dunedin office of worldwide property consultancy company DTZ - following a London head-office decision - but its staff will resurrect the business with a new company.
A bombshell fell on 25 investors of failed Hurricane House Ltd yesterday, when its liquidators revealed their investments - $4.5 million of unpaid loans to a Canterbury-based finance company - were not secured against any assets.
Glass Earth Gold, the country's largest gold explorer, has a "make or break" 18 months ahead, as it moves from explorer to gold producer in the Ida Valley in Otago to generate much-needed cash flow.
Exploration company and dual-listed Glass Earth Gold has booked a $1.33 million loss for the year to December after spending about $4.1 million on exploration during the past year, largely on five prospects in East Otago.
A creditors and investors meeting is scheduled with liquidators for today, to update them on the demise of Hurricane House Ltd, the private investment and finance company which may owe up to $8.5 million.
Dunedin businessman Paul Nicholson is sole owner of Hurricane House.
Cash-strapped and debt-laden Nuplex Industries was granted a day-long extension to its crucial $110 million capital-raising book-build yesterday, after appearing to have failed to attract the level of investment required.
Falling house prices continue to make housing more affordable in some areas, including Central Otago, but bank deposit requirements of 20% or more are undermining the trend.
Up to eight jobs - or 10% of the staff of Carpet Court in Dunedin - could be lost following a downturn of about 20% in work during the first quarter of the calendar year.
Specialist hard-coking coal company Pike River Coal could reap a further $73 million with its bonus share options during the next two years, on top of the $45 million it will raise in the present, fully underwritten, new share issue.
Otago manufacturing - notching up its worst result in 26 months - continues to fare slightly better than the national average, though emerging negative trends indicate there is no end in sight for the tough times.
The Warehouse has reported a decline in half-year profit, as expected and largely due to a $7.4 million writeoff from exiting a trial Auckland hypermarket, but remains on track to deliver a "similar" adjusted full-year after-tax profit of about $90 million.
The historic former Bank of New Zealand building, in the Exchange area on Princes St in Dunedin, is up for mortgagee tender.
Mortgagee property sales around the country for December increased more than 270% on a year ago, as finance companies tightened the screws on loan repayments, boosting the number of forced sales going to market.
Dunedin-based Pacific Edge Biotechnology is offering its existing shareholders a new issue of up to $5000 of ordinary shares each, potentially worth a total of $3 million.
