Busy debut for issues
The listing of two new issues, Genestock and Ra Ora Stud, created a busy national sharemarket yesterday, although prices were mixed. Genestock was the most active issue, the 50c shares selling between 80c and 90c. The largest parcel changed hands at 85c. Ra Ora was also active, selling between 112 c and 130 c for the 50c shares, which also carried a premium of 50c. The biggest parcel was priced at 130 c. Crown Consolidated rose 1c but Dalgety New Zealand fell 2c on the news that the Examiner of Commercial Practices had approved the merger of the two companies. Mount Cook Group and New Zealand South British were also steady after the report that Air New Zealand had bought NZSB’s holding in Mount Cook. Market leaders tended to be a shade easier, although the NZUC industrial index closed at 989.59 points, for a gain of 2.19. The mining and oil sector was weaker; Cue Energy and NZ Oil and Gas eased 1c each.
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Press, 1 October 1983, Page 23
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168Busy debut for issues Press, 1 October 1983, Page 23
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