Sharechat Logo

Listing for Hedge Fund Patrol short and not so sweet

Monday 31st January 2005

Text too small?
Hedge Fund Patrol Ltd has been delisted from the Unlisted trading platform.

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).

Earlier story: An Australian based wannabe hedge fund has appeared in New Zealand on the online share trading platform Unlisted.
Bond Offer: Infratil Ltd, 7.2 year & 10.2 year unsecured unsubordinated bond

  General Finance Advertising    

Comments from our readers

No comments yet

Add your comment:
Your name:
Your email:
Not displayed to the public
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.

Related News:

NZ dollar edges higher as concerns over Saudi attack ease
UK trade minister pops up into Wgtn, promises 'better deal' for NZ ag exports
A2, Synlait shares climb as takeover bid revives optimism about Chinese appetite for milk
Primary sector export revenue seen down 0.5% in FY2020
Z, BP, Waitomo challenge ComCom claims on excess returns
Abano shares jump 10% on takeover speculation
Service sector activity eases in August but still expanding
Abano shares jump 10% on takeover speculation
Service sector activity eases in August but still expanding
ANALYSIS: Wealth management now wags the stock-broking dog

IRG See IRG research reports