Stand for Mair
Morrow and Benjamin, an Auckland sharebroker, was about 25 per cent of the way towards achieving a 5 per cent holding in Mair Astley, Ltd, the Christchurchbased exporter and processor of primary products. The broker announced yesterday that it was standing in the market for Mair’s shares, offering 275 c a share. This is in contrast to Tuesday’s closing price of 250 c. A spokesman for Morrow and Benjamin said yesterday that the firm
had bought 235,900 shares of the 968,000 required to fill the order.
The spokesman would not name the client, and the managing director of Mair’s, Mr A. D. Shadwell, said he had no idea who the buyer was. A total of 365,000 Mair shares were recorded in the national sales yesterday, trading in a range of 255 c to 287 c. The issue closed at 282 c for a 32c gain on the day. Of the turnover, 133,000 were sold at the offer price, although 201,000 traded 1c above it at 276 c.
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Bibliographic details
Press, 12 June 1986, Page 26
Word Count
170Stand for Mair Press, 12 June 1986, Page 26
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