BIG STEEL MERGER
NEW AUSTRALIAN COMBINE SHARES OFFERED TO PUBLIC It is announced that the merger of big Australian and British iron and steel interests concerning which a preliminary statement was made a few weeks ago by the then Minister of Trade and Customs of Australia, the late Hon. H. E. Pratten, has been completed. The outcome will be very extensive iron and steel works at Port KLembla, in New South Wales. A company— Australian Iron and Steel, Ltd.—has been formed, with a nominal capital of £5,000,000. For the present the issued capital is £3,100,000, comprising 2.100,000 ordinary shares and 1,000,000 11 per cent, cumulative preference shares. The associated companies, Hoskins Iron and Steel Company. Ltd.. Dorman Long and Company, Ltd., Howard Smith, Ltd., and Baldwins, Ltd., are providing the ordinary capital and a portion of the preference capital. The investing public of Australia is being invited to subscriber £675,000 of the preference capital.
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Bibliographic details
Sun (Auckland), Volume II, Issue 361, 23 May 1928, Page 12
Word Count
154BIG STEEL MERGER Sun (Auckland), Volume II, Issue 361, 23 May 1928, Page 12
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