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PINs raises $30 million

Thursday 22nd December 2005

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Absolute Capital's Packaged Income Notes series has closed after raising more than $30 million from retail and institutional investors.

PINs is a capital protected income investment aiming to produce annual returns of 9.25% annually.

"Having spent four years working with New Zealand's retail and institutional investors to develop a new kind of product we are naturally delighted by this reaction," Absolute group managing director Deon Joubert says.

"We are pleased that many investors obviously agree with us that the PINs offer is likely to provide an effective investing solution to the current market conditions."

The offer opened on November 28 and closed on Wednesday. PINS will be quoted on the NZDX from Friday.

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