Retirement stocks fall on housing policy
The S&P/NZX 50 Index fell 35.46 points, or 0.3%, to 12,358.88. Within the index, 32 stocks fell, 13 rose, and 5 were unchanged. Turnover was $183m.
Oceania Healthcare dropped 4.3% to $1.33 after it completed the first phase of its $100m capital raise to fund the purchase of an existing retirement village and new land for development. Shares were sold in the offer at $1.30.
The aged care provider will also raise $20m in a retail offer that opens on Thursday.
Grant Davies, an investment advisor at Hamilton Hindin Greene, said other retirement village operators had drifted lower since the government announced a new housing policy to discourage property speculation.
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