P and O issue in Australia
Sydney P and O Australia, Ltd, plans to make an issue of 25 per cent of its ordinary capital, or 625 million 100 c shares to the Australian public.
The listing of the shares will break a" long drought in major new industrial listings on Australian stock exchanges. The company has interests in shipping and travel agencies, Barrier Reef island resorts, seafoods, and oilrig off-shore servicing vessels. A prospectus will be issued on about November 16.
Because of pre-prospectus publicity restrictions the company executives were unwilling to discuss the substantial restructuring of capital which has taken place ahead of flotation, and were silent on the issue-price.
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Bibliographic details
Press, 14 November 1977, Page 27
Word Count
112P and O issue in Australia Press, 14 November 1977, Page 27
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