Goodfellows' Amalgamated Dairies trims Sanford stake again, raising $20.8M

Friday 29th September 2017

Amalgamated Dairies, an investment vehicle for the Goodfellow family, has raised about $21 million reducing its holding in fishing company Sanford to 24 percent from 27 percent.

It sold 2.9 million shares in August and September on market for $20.8 million, which amounts to about $7.19 a share. The shares last traded at $7.60 and have gained about 12 percent this year.

Amalgamated last reduced its holding in August 2016 with the sale of 5 million shares at $5.50 each. A separate Goodfellow vehicle, Avalon Investment Trust, is the second-largest holder of Sanford with a 9.2 percent holding, while Peter Masfen's Masfen Securities owns 4.4 percent.

In May Sanford reported a 25 percent gain in first-half profit to $19 million and declared an unchanged interim dividend of 9 cents.

(BusinessDesk)

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