Coal supplier Pike River Coal and casino operator Sky City Entertainment have separately raised a total of more than $226 million this week from new share issues as both seek to bolster their balance sheets.
Sky City raised $185.3 million from institutional shareholders with 71 million new shares at $2.61, at a 8.4% discount to its last price before trading ceased on Tuesday.
Pike River Coal said it raised a fully subscribed total $41 million from an earlier rights issue at 70c per share.
This was taken up by more than two-thirds of shareholders, with nearly 3000 shareholders applying for a further 12.4 million shares.
In the past four weeks, eight companies have raised more than $1.3 billion from New Zealand institutional and retail shareholders, largely to pay off debt and avoid breaking banking covenants as the international credit crunch slows loans.
Sky City has no short-term debt obligations to meet, prompting several companies to make share offers recently.
Pike River suffered a tunnel collapse in February which postponed inaugural production by three months and prompted the need for the capital raising.
