Chrysler issue
NZPA Adelaide A capital reconstruction will give Mitsubishi Corporation and Mitsubishi Motor Corporation a slightly more than one-third interest in the capital of Chrysler Australia, Ltd, at a cost of sAust27M.
Chrysler will issue 20M 100 c shares, at 135 c each, to the Japanese companies subject to Government approval. At the same time Australian shareholders, who hold a small proportion of Chrysler shares, will get a chance to increase their holding through an 11-for-20 issue at 13bc a share.
The American parent, Chrysler Overseas Capital Corporation, holds the remainder of the current issued capital in the Australian company.
The issue price compares with current market levels of around 117 c for Chrysler shares.
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Press, 7 April 1979, Page 19
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116Chrysler issue Press, 7 April 1979, Page 19
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