Sharechat Logo

Utilico trims stake in Infratil to 11.8 percent via buyback, on-market sale

Monday 9th December 2013

Text too small?

Utilico Investments, a UK investor managed by Infratil director Duncan Saville's ICM, has reduced its stake in Infratil after participating in the Wellington-based company's buyback and selling shares on market.

Utilico's holding reduced to 11.8 percent from 13.3 percent after it sold 6.6 million shares in last week's buyback at $2.38 apiece and sold 5 million shares in March at $2.4015 a share, it said in a substantial security holder notice.

The UK firm's holding was reduced to around 13 percent in 2011 when it sold 15 million shares to HRL Morrison & Co, the Wellington-based investment bank that manages Infratil, and a further 15 million shares to a US institutional investor.

Utilico used to be known as Infratil International, whose directors included Saville, one of the original directors and a founder of Infratil.

Shares of Infratil last traded at $2.24 and are down about 1.3 percent this year.

NOTE: please be advised to read full articles from Business Desk Website, you will have to pay a subscription fee on their website.

BusinessDesk.co.nz



  General Finance Advertising    

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.

Related News:

Rio Tinto reiterates Tiwai position as aluminium prices stay weak
TIL downgrades earnings by up to 40%, suspends first-half dividend
Govt accounts unexpectedly in the black as lumpiness continues
17th January 2020 Morning Report
Gentrack loses investor support with vague downgrade
Margin pressure continues at Michael Hill although sales rise
House prices hit fresh records as sales stepped up in December
16th January 2020 Morning Report
NZ dollar eases ahead of US-China trade deal signing
Gentrack shares plunge as it gets cold shoulder from UK’s E.ON

IRG See IRG research reports