NZ's Winton Land hits record low on filing case in Auckland High Court

Winton Land

20/10/2022 01:59

** Shares of property developer Winton Land Ltd  WIN.NZ 
fall as much as 5.1% to NZ$2.24, hitting a record low
    ** WIN confirms it has issued proceedings in Auckland High
Court alleging anti-competitive conduct by NZ government housing
establishment Kāinga Ora  urn:newsml:reuters.com:*:nASX7gTHVk
    ** Says it is seeking court declarations in relation to
Kāinga Ora
    ** Says costs of proceedings are not anticipated to
materially affect co's FY23 guidance 
    ** Stock posts its biggest intraday pct fall since Sept. 9
    ** Stock has fallen 37.9% this year, as of last close
 (Reporting by Poonam Behura in Bengaluru)
 ((Poonam.Behura@thomsonreuters.com;))