Richmond issue
PA Wellington Richmond Development Corp, Ltd, has issued 1.5 million ordinary 40c shares to Equiticorp Investments, Ltd, for 330 c each.
The issue was made to provide funds for Richmond’s cash take-over of Hooper Bailie Industries, Ltd, in Sydney, Richmond said in a statement to the Stock Exchange.
Richmond’s Austl7sc a share (NZ2l3c) offer valued Hooper Bailie at about sAust2s million (SNZ3O.S million). Before the issue Equiticorp held 23 per cent of Richmond’s issued share capital. The new shares would rank pari passu with existing ordinary 40c shares.
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Bibliographic details
Press, 5 February 1987, Page 21
Word Count
90Richmond issue Press, 5 February 1987, Page 21
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