C.S.R. cash issue
(N.Z. Press Assn.—Copyright) SYDNEY, Nov. 2. CSR, Ltd, has made a placement of shares which will raise $1.39m.
It is understood that the money from the issue will be used as part payment for the purchase of a 26 per cent interest in Australian and Kandos Cement Holdings, Ltd, which cost more than sllm. The acquisition of 5.9 m shares in Blue Metal Industries, Ltd, is said to have cost s9m, and in addition, CSR and Blue Metal Industries have undertaken the joint purchase of a 25 per cent interest in Goliath Cement, Ltd, which will cost s7m.
The statement announcing the placement of 342,733 100 c shares at a premium of $3.05 does not say with whom the shares were placed. The shares issued represent only 0.4 per cent of CSR’s issued capital. They will rank pari passu and with all other ordinary shares, and an application has been made to have them listed on stock exchanges.
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Bibliographic details
Press, Volume CXIII, Issue 33373, 3 November 1973, Page 13
Word Count
161C.S.R. cash issue Press, Volume CXIII, Issue 33373, 3 November 1973, Page 13
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