BHP float questions
NZPA-AAP Melbourne Shares in one of Australia’s largest gold floats, BHP Gold Mines, Ltd, are expected to be offered to BHP shareholders at either one-for-six at sAustl a share or one-for-three at 50c a share, BHP sources said. The sources said the BHP board would meet on Friday to determine entitlements and other issues including whether the shares would be offered at a premium and the question of the large number of shareholders likely to be left with unmarketable parcels. BHP will hold about 55 per cent and the rest will be offered to BHP’s 198,000 shareholders. BHP’s shareholders would get about 212 million shares with BHP retaining about 260 million. But market analysts have said the float is likely to be valued by the market at much higher than the sAustsoo million (SNZ6OSM) value at which the parent has rated it.
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Press, 25 February 1987, Page 35
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145BHP float questions Press, 25 February 1987, Page 35
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