AMP cans Summerset float

Yesterday the NZX50 index fell another 1.5%, while the Australian S&P200 index fell 3%. These declines mirror falls across global equity markets.

"Summerset is a quality business which AMP Capital Investors is very pleased to own. We believe that its inherent value exceeds what the market would be prepared to pay in the current volatile conditions. We are not willing to accept a lower price for the asset and are under no pressure to sell," AMP Capital managing director Murray Gribben said.

The existing shareholders will retain ownership of the business and will contribute capital towards Summerset's development plans.

AMP Capital says that, at some future date, it may reconsider conducting an IPO of Summerset.

Comments from our readers

No comments yet

Add your comment:

Your name:
Your email:	Not displayed to the public
Comment:
Comments to Sharechat go through an approval process. Comments which are defamatory, abusive or in some way deemed inappropriate will not be approved. It is allowable to use some form of non-de-plume for your name, however we recommend real email addresses are used. Comments from free email addresses such as Gmail, Yahoo, Hotmail, etc may not be approved.

Anti-spam verification:

Type the text you see in the image into the field below. You are asked to do this in order to verify that this enquiry is not being performed by an automated process.

Related News:

Further COVID-19 Restrictions at SkyCity’s New Zealand Properties
FY20 results guidance met, Results date, Banking Facility
Sky sells OSB assets to NEP NZ, secures 10 year partnership
NZX fully operational - announcement re COVID-19
Heartland Market Update
Steel & Tube Fy20 Trading Update
Further Contract Win Strengthens Scott Technology’s Position In Mining Sector
New Talisman - Chairman’s Address to AGM 2020 August 6, 2020
T&G reports its 2020 Interim Results
TruScreen strengthens its market presence in central and eastern Europe