Alcan Issue To Be Of Significant Size
(New Zealand Press Association) AUCKLAND, July 16. Alcan New Zealand, Ltd, will go public with a share issue on the New Zealand market in the last quarter of this year. The managing director (Mr A. H. Swift) said the exact percentage of the share capital to be made available had not yet been decided but it would be “of significant proportions.”
At present the company is a wholly-owned subsidiary of Alcan Aluminium, Ltd, of Canada, one of the world’s : largest aluminium producers. “It has always been Alcan New Zealand, Ltd’s, declared objective to offer to New Zealand investors the oppor-! tunity of acquiring a substantial stake in local operations, especially as Alcan is! now playing an increasingly important part in national development as a major New;
Zealand industry,” Mr Swift said. “Recently in South Africa and Malaysia the public was invited to subscribe ’o issues made by the Alcan companies there—and now a similar step is being taken in New Zealand,” he said. The company would seek listing on the Stock Exchange. “It will issue the shares at a premium through a New Zealand firm of underwriters,” Mr Swift said.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19700717.2.172.3
Bibliographic details
Press, Volume CX, Issue 32351, 17 July 1970, Page 18
Word Count
197Alcan Issue To Be Of Significant Size Press, Volume CX, Issue 32351, 17 July 1970, Page 18
Using This Item
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 BY-NC-SA 3.0 New Zealand licence. 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.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in