The New Zealand government has sold 20% of Air New Zealand's stock for NZ$365 million ($300 million), reducing its stake in the carrier from 73% to 53%. It sold just over 221 million ordinary shares at a price of $1.65 per share. Trading in the airline's shares was halted for two days last week to allow the sale to go ahead. Announcing the transaction, Finance Minister Bill English told the New Zealand parliament: “This is the latest step in the government’s share offer ...

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