A.C.I. SHARE PLACEMENT
Payment For Takeovers
INZ Press Assn.— Copyright) MELBOURNE, May 13. Australian Consolidated Industries. Ltd., has made a private placement of £1 ordinary shares worth over £1 million to take-over two proprietary companies. The companies were acquired for cash following the placement of new shares. Issue comprised 265,714 £1 shares at a premium of £2 10s each. This raised £931.999 Placement price of 70s compared with yesterday’s market price of A.C.I. shares of 86s. Placement was not made direct to an institution of the life office or provident fund type and was not made through a broker. The companies acquired are now wholly owned subsidiaries of A.C.I. A.C.I declined to identify the companies purchased or reveal the nature of the businesses concerned.
However. It was stated that these two acquisitions
were operating "in two different fields.” It is understood that new shares issued have been listed on the stock exchange and rank equally in all respects with existing shares.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/CHP19610516.2.153
Bibliographic details
Ngā taipitopito pukapuka
Press, Volume C, Issue 29514, 16 May 1961, Page 15
Word count
Tapeke kupu
161A.C.I. SHARE PLACEMENT Press, Volume C, Issue 29514, 16 May 1961, Page 15
Using this item
Te whakamahi i tēnei tūemi
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons Attribution-NonCommercial-ShareAlike 4.0 International licence (CC BY-NC-SA 4.0). This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Acknowledgements
Ngā mihi
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in