Auckland International Airport (ASX: AIA) has completed its NZ$1.2 billion ($1.1 billion) underwritten placement. Shares were offered at NZ$6.95 each, a 7% discount to the previous close of NZ$7.48 on the NZX as of September 13. This placement led to a 5% decline in AIA's stock price during morning trading. Despite this drop, the placement received strong support, with bids surpassing the total offer amount from investors. The equity raise, part of a larger NZ$1.4 billion plan, will fund the construction of a new domestic jet terminal.
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