IPE listing change
PA Auckland Inter-Pacific Equity will be listed on the Stock Exchange as McConnell Dowell Corporation from next week. Chief executive, Mr Doug Lowrey, said that a slight hiccup on the Australian side of things meant the name change on the number one board had been delayed. Mr Lowrey dispelled rumours that the company was a financial risk, saying they had arisen because of the company’s tie-up with the property market. Mr Lowrey said he had heard most of the rumours, including the one about how they were unable to pay off their contractors. He said the company had embarked on a programme of selling assets and had reduced its debt by $2OO million.
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Press, 18 February 1989, Page 19
Word Count
116IPE listing change Press, 18 February 1989, Page 19
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