Magellan Flotation
(N Z. Press Association) AUCKLAND, Feb. 13. The Magellan group today announced plans for a public issue in New Zealand. It said that a new company was' to be formed immediately tol acquire all the petroleum: prospecting licences held by: Magellan Petroleum (N.Z.),i Ltd. and Canada Southern Petroleum (N.Z.), Ltd. The issue is still subject to the firm approval of the Minister of Mines and of the Minister of Finance. • However. it is understood that a' flotation will be designed to! meet stipulations laid down as desirable by the Government. Arrangements for the issue; are being completed with the! company’s underwriters and! it is expected that the l prospectus will be filled! within 21 days.
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Bibliographic details
Press, Volume CIX, Issue 32222, 14 February 1970, Page 12
Word Count
117Magellan Flotation Press, Volume CIX, Issue 32222, 14 February 1970, Page 12
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