PLACEMENT BY ANSETT
Boral Lifts Holding (N.Z. Press Assn.—Copyright) MELBOURNE, April 21. Ansett Transport Industries, Ltd., has placed a further 2.7 m shares with the Sydney-based oil refiner and investor, Boral, Ltd., lifting that company’s holding to over 15 per cent of A.T.l.’s capital. The Ansett group, covering airlines and road transport, represents the biggest oil account in Australia. Present oil contracts still have several years to run. The share placement, worth 2.05 m dollars, was announced yesterday by lan Potter and Company. Fleet Expansion The funds will be used to help finance Ansett’s fleet expansion and gear up the group’s borrowing capacity for more finance. The shares were placed at 75 cents, but this week, under strong selling pressure, Ansett shares have fallen to 73 cents and yesterday closed at 74 cents. These market conditions suggest that Boral was a very strong buyer of the shares and may eventually come back for more, according to the “Australian Financial Review.”
Boral, Ltd., is now by far the biggest shareholder in the Ansett group, more than twice as big as the island trader, W. R. Carpenter and Company, which sold its Mandated Airlines to Ansett five years ago.
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Bibliographic details
Press, Volume CV, Issue 31041, 22 April 1966, Page 15
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197PLACEMENT BY ANSETT Press, Volume CV, Issue 31041, 22 April 1966, Page 15
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