Monday 31st January 2005 |
Text too small? |
Hedge Fund Patrol (HFP) said in a statement it had been advised by Unlisted that its securities could not be traded because it did not have a prospectus.
HFP shares were briefly quoted on Unlisted from January 24, before trading was suspended the next day, before any shares had changed hands.
HFP had one million shares on issue and initially hoped to raise just over $500,000.
HFP said Unlisted gave no undertaking as to whether it would consider quoting HFO securities in the future.
HFP is looking at launching a global retail fund-of-hedge-funds and said it intended offer its first fund-of-hedge-funds to Australian investors through the issue of HFP redeemable preference shares in mid-2005. Unlisted is not a registered securities exchange and is not subject to the disclosure, insider trading and oversight provisions of the Securities Act.
Eight brokers are registered to trade shares via the system, and Unlisted trades shares in 21 companies, one more than the regulated NZX Alternative Exchange (NZAX).
No comments yet
Fonterra appoints permanent COO
Manawa Energy FY24 Annual Results & Webcast Details
Seeka Provides the Results of Meeting - ASM
April 19th Morning Report
PGW Guidance Update
CNU - Commerce Commission releases draft expenditure decision
Spark announces departure of Product Director
TGG - T&G appoints new Director
April 18th Morning Report
SKC - APPOINTMENT OF CHIEF EXECUTIVE OFFICER