Stocks of the Hour: Air NZ, Baby Bunting & Galan Lithium

Air New Zealand (ASX:AIZ) deferred its planned capital raise until 2022. The New Zealand airline received a letter from the Minister of Finance, noting that the environment is not stable enough at this time to provide a firm pre-commitment from the Crown. Shares in Air New Zealand (ASX:AIZ) are trading 1.1 per cent higher at $1.42.

Maternity and baby goods retailer Baby Bunting (ASX:BBN) recorded total sales of $468.4 million in FY21, up 15.6 per cent from the prior year. Net profit after tax reached $17.5 million, up 76 per cent from the prior year. Shares in Baby Bunting Group (ASX:BBN) are trading 4.5 per cent lower at $5.71.

Galan Lithium (ASX:GLN) received firm commitments to raise $50 million through a two-tranche placement to institutional investors. Placement funds will be used to accelerate Galan’s existing lithium projects. Shares in Galan Lithium (ASX:GLN) are trading 4.3 per cent lower at $1.23.

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Source: Finance News Network