CDL floats NZI offshoot
NZPA SydNey Melbourne investment company Corporate Development, Ltd, is floating a sAust4.24 million New Zealand offshoot. CDL’s company secretary, Mr Paul Adams, said it was hoped that the affiliate, Corporate Development (NZ), Ltd, would be listed on the
ANN MARTELL
New Zealand Stock Exchange by the end of February. CDL, itself an offshoot of electronics group BWD Industries, Ltd, was listed on the second board of the Melbourne Stock Exchange last June. CDNZ plans to raise the $4.24 million by issuing 5.19 million fully paid 50c
shares on a one-for-one basis to CDL’s existing shareholders and a further 3.3 million 50c options exercisable up to June, 1989. BWD, which has a 43 per cent shareholding in CDL, has taken up its entitlements in the New Zealand company.
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Press, 10 January 1987, Page 28
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131CDL floats NZI offshoot Press, 10 January 1987, Page 28
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