$15M injection
The Reserve Bank yesterday made a small injection into the short-term money market. It advanced $l5 million by way of sellback deals secured by March 3 stock. Dealers bid $7O million and the average interest rate was 24.67 per cent. Landmark firm The directors of Landmark Corporation, Ltd, have declared unconditional the offer to purchase the Fund of New Zealand units which Landmark does not already hold. The company acquired 73 per cent of the fund in October last year, and in December sought to acquire the remainder, offering 9.68 shares in the new property and investment company Pacific Metropolitan, Ltd (40 per cent owned by Landmark), for each unit. Landmark now owns or has received acceptances for 95.4 per cent of the units in the fund. The offer will remain open until March 31.
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Press, 26 February 1987, Page 25
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137$15M injection Press, 26 February 1987, Page 25
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