NZX flat as Vital Healthcare announces $200m capital raise

The S&P/NZX 50 Index reached an intraday low of 13,523.08 but recovered late afternoon to finish on 13,617.48, down 18.26 points or 0.13%. The property sector declined more than 1%.

Vital Healthcare told the market it had reached a conditional agreement to take back the management rights from Northwest Healthcare Property Trust.

“The internalisation represents the next key step in Vital’s evolution, enhancing governance and providing a scalable platform positioned to capture the full benefit of future growth on behalf of unit holders,” the Trust said.