Stars issue
.PA Auckland The acquisition by Stars Corporation of Rainbow Springs in Rotorua for shares and cash has pushed Argus Questar below its 20 per cent holding, affecting that company’s ability to equity-ac-count Stars’ earnings. Stars’ shareholders approved the issue of 4 million ordinary 50c shares of 20c each to Rainbow Springs (1986), giving Rainbow Springs slightly more than 10 per cent of the issued capital, at the annual meeting. The new shares dilute the Argus stake from 20 per cent to 17.9 per cent
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Bibliographic details
Press, 28 November 1987, Page 32
Word Count
86Stars issue Press, 28 November 1987, Page 32
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