Shortfall in BIL issue
PA Wellington Brierley Investments raised only $135 million or 56 per cent of the $240 million sought in its rights issue. But Brierley’s chief executive, Mr Paul Collins, said yesterday the company was pleased with the outcome, given the "unprecedented circumstances” that arose after the rights issue was announced early in October. More than 120,000 shareholders subscribed to the one-for-ten issue.
Mr Collins said the result put Brierley in a good position to pursue investment opportunities which had arisen. He said the number of shareholders had risen 8 per cent to 181,000 since the rights issue was announced in October. Following the rights issue, Brierley has issued 67,259,691 new shares and with a one for four bonus issue, it will increase the company’s shares on issue to about 1593 million.
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Press, 23 January 1988, Page 29
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134Shortfall in BIL issue Press, 23 January 1988, Page 29
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