Bond shares fall
NZPA-AAP Perth A fresh round of short-selling and fresh concern over Alan Bond’s brewing deal has been blamed for a sharp fall in Bond Corp Holdings share price. The Australian Stock Exchange (ASX) queried Bond Corp after its shares fell 11c to 50 in early trading on Monday. The stock later recovered to close 6c lower at 55. In reply, Bond Corp said it knew of no reason for the fall, nor was it in possession of any information which could explain it. But analysts yesterday cited short-selling of the stock, together with fresh concern at the state of Bond Corp’s proposed sale of its brewing interests to Bell Resources for sAust3.s billion (SNZ4.SB). Shares in Bell Resources, which is 58 per cent owned by Bond Corp, also suffered on Monday, falling 10c to 98.
Peter Morgan, of Jarden Fleming Australia, said Rivkin and Co was believed to have been active in short-selling of Bond Corp shares.
Another broker, who requested anonymity, said Rivkin had been in the marketeer both Bond Corp and Bell Resources shares intermittently over the past few weeks.
Permanent link to this item
https://paperspast.natlib.govt.nz/newspapers/CHP19890830.2.128.44
Bibliographic details
Press, 30 August 1989, Page 43
Word Count
185Bond shares fall Press, 30 August 1989, Page 43
Using This Item
Stuff Ltd is the copyright owner for the Press. You can reproduce in-copyright material from this newspaper for non-commercial use under a Creative Commons BY-NC-SA 3.0 New Zealand licence. This newspaper is not available for commercial use without the consent of Stuff Ltd. For advice on reproduction of out-of-copyright material from this newspaper, please refer to the Copyright guide.
Copyright in all Footrot Flats cartoons is owned by Diogenes Designs Ltd. The National Library has been granted permission to digitise these cartoons and make them available online as part of this digitised version of the Press. You can search, browse, and print Footrot Flats cartoons for research and personal study only. Permission must be obtained from Diogenes Designs Ltd for any other use.
Acknowledgements
This newspaper was digitised in partnership with Christchurch City Libraries.
Log in