OceanaGold to join NZX 50, APN drops out in quarterly review

Published: Thu 8 Sep 2011 09:15 AM
OceanaGold to join NZX 50, APN Media drops out after quarterly review
Sept. 8 (BusinessDesk) – OceanaGold Corp., operator of the Macraes gold field, is to join the NZX 50 Index on Sept.19 as APN News & Media Ltd. drops out after the bourse’s latest quarterly review.
Dual-listed OceanaGold ranks above the requirement for inclusion in the benchmark index while Australia’s APN is being removed after failing to meet minimum liquidity requirements, according to a statement from the NZX.
APN, the publisher of the New Zealand Herald newspaper, has its primary listing on the ASX, where it is more frequently and heavily traded. Shares of APN, which took a charge in its latest results to write down the value of its titles, have tumbled 57% in the past 12 months and last traded at $1.04.
Shares of OceanaGold have fallen 38% in the past 12 months and traded recently at $2.90.
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