Quiet listing

Brokers said investors keen on the stock had already bought shares in recent months when the price reached a high of 20c. Listed Southern Capital, another in Mr Paterson's stable, owns 4.3% of the 166,666,666 shares on issue bought at 10c a share.

Botry-Zen manufactures a biological control against fruit fungus Botrytis cinerea, which often affects grapevines. The company forecasts sales of $1.2 million next year and a $135,000 profit in the year to March 31, 2004, but expects a $926,000 shortfall this year as it sets up operations.

Botry-Zen was initially floated last year to private investors in a $5 million capital raising. In July it was granted registration for grape application under the Pesticides Act.

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