Net income slipped 42% in the first half ended Jan. 31 to NZ$8.1 million ($5.2 mm) from NZ$14.0 million on 59% higher sales of NZ$363.7 million ($234.9 mm) including the acquired Rip Curl business, up from NZ$229.0 million last year. The New Zealand-based retailer and brand owner plans to raise approximately NZ$207 million through a combination of a $30 million institutional placement and a $177 million entitlement offer. The new shares will rank equally with its existing shares and are being offered at NZ$0.50 per share, a discount compared to the theoretical diluted price of its current shares. The offering ... Log in to view full article.