M. Hold shares sought
PA Auckland An on-market bid launched on the sharemarket yesterday for a 10 per cent stake in Motor Holdings, Ltd, was twothirds completed by the end of trading. At the start of trading on Auckland broker, Paine Belcher and Partners, announced it would stand in the market for 10 per cent of Motor Holdings on behalf of Haumoana Investments, Ltd, at 190 c a share. Haumoana is a private company connected with Mr Peter Spencer, a Motor Holdings director. To get to . 10 per cent, Haumoaha would need to buy 1,546,000 Motor Holdings shares. At the offer price of 190 c a share, the total cost would be 52.937 M. At the end of trading Mr David Belcher, a partner in Paine Belcher and Partners, said a million shares had been purchased on behalf of Haumoana.
Mr Belcher said the response had been phenomenal. The bid would continue today, but Mr Belcher predicted it would be “all over by lunch-time”. The bid mounted yesterday would give Haumoana a 40 per cent stake, said Mr Belcher.
Permanent link to this item
Hononga pūmau ki tēnei tūemi
https://paperspast.natlib.govt.nz/newspapers/CHP19860124.2.99.6
Bibliographic details
Ngā taipitopito pukapuka
Press, 24 January 1986, Page 12
Word count
Tapeke kupu
179M. Hold shares sought Press, 24 January 1986, Page 12
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.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
Ngā mihi
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in