SALE OF NEW LOAN
PARCEL AT ISSUE PRICE A transaction in the new 4 per cent, loan floated by the Government took place on the Christchurch Stock Exchange on Monday, when business was reported in 31/5/54-58 slock at £96. While this is equal to the issue price there is now almost three weeks’ accrued interest on the loan, amounting to roughly 4s, so that the net price is really £95 16s. At this figure the investment shows a yield on redemption in 1954 of £4 7s lOd per cent. A provision was made in the prospectus of this loan whereby sums would be made available for the purchase for cancellation of the stock should the market price fall below the price of issue, namely £96 per cent. This referred to the net price after the deduction of any interest accrued, but no provision was included for the making of anv amount available for purchases of the stock prior to the beginning of the next financial year, namely, April 1, 1940. As yet only allotment letters have been issued, it not being intended to issue debentures or inscribed stock until on or after August 4 next.
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https://paperspast.natlib.govt.nz/newspapers/WC19390622.2.118.6
Bibliographic details
Wanganui Chronicle, Volume 83, Issue 145, 22 June 1939, Page 11
Word Count
195SALE OF NEW LOAN Wanganui Chronicle, Volume 83, Issue 145, 22 June 1939, Page 11
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