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Market stand for Broadway

By Phil Boeyen, ShareChat Business News Editor

Wednesday 6th June 2001

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Duxford Investments has chosen the lower end of its price range for a market stand on Broadway Investments (NZSE: BWY).

Brokers acting on behalf of Duxford Investments say the stand will begin Thursday, and they will be looking for 2.2 million ordinary shares in Broadway at 29 cents per share and 2.2 million rights at 5 cents per share.

A previous notice to the market said the price to be offered by Duxford would be in a range from 29 cents per share to 34 cents.

Duxford currently has a 40% stake in the company but wants to increase that to 54.83%.

The offer will be made through Broadway's normal code.

Broadway Industries main businesses are photographic operator H E Perry and stainless steel fabricator Mercer Stainless. In its most recent interim financial result the company made a profit of $304,000, up $15,000 on the previous year.

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