ComSec stake increases
PA Wellington Commercial Securities, Ltd, has taken its holding in Invesco Group, Ltd, to 10 per cent, buying a further 1.2 M shares, or 5 per cent of Invesco’s issued capital. The further acquisition was made by on market transactions at prices ranging from 48c to 50c a share.
The chairman of Commercial Securities, Mr Murray
Tanner, said that his company believed Invesco had a number of worth-while investments in its portfolio.
With Invesco’s recent management changes, its investments would be developed to show “a considerably greater potential than had previously been recognised by investors.”
He said Commercial Securities would not consider in-
creasing its involvement beyond 19.9 per cent, but may move its stake in Invesco to this level at the appropriate time. The chairman of Invesco, Mr lan Ward, said he welcomed Commercial Securities’! involvement in the company and believed the new direction would "adequately reward all the shareholders.”
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Press, 21 February 1986, Page 10
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154ComSec stake increases Press, 21 February 1986, Page 10
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