Video | Agriculture | Confidence | Economy | Energy | Employment | Finance | Media | Property | RBNZ | Science | SOEs | Tax | Technology | Telecoms | Tourism | Transport | Search

 

Utilico sells Tourism Holdings stake for $5.7 mln

Utilico sells Tourism Holdings stake for $5.7 mln

Sept. 3 (BusinessDesk) - Utilico Investments, a UK investor managed by Infratil director Duncan Saville’s ICM, has sold its 8.6 percent stake in rental campervan operator Tourism Holdings for some $5.7 million.

The firm sold about 8.4 million shares on market yesterday, according to a substantial shareholder notice. Reuters data showed one trade of 8.5 million shares yesterday at 68 cents apiece, accounting for most of the 10.5 million shares traded in the single biggest day of trading since March 15 last year.

The stock closed at 69 cents, up 4.6 percent, and unchanged since the start of the year.

Utilico emerged as a substantial shareholder in March last year, buying 7 million shares on market when the stock was trading at 63 cents.

Last week, Tourism Holdings reported an 11 percent decline in earnings before interest, tax and financing costs to $14.6 million in the 12 months ended June 30, within the company’s forecast of $14 million to $16 million and ahead of downbeat expectations.

The buyer of the stake hasn’t yet issued a substantial shareholder notice to the stock exchange.

(BusinessDesk)

© Scoop Media

 
 
 
Business Headlines | Sci-Tech Headlines

 

Grey Power: Is Disappointed To Learn Of More Bank Closures

Many older people are being left without essential services because of cost cutting and the march of modern technology. It is now expected that most banking transactions can occur via the internet or telephone. Jan Pentecost, President of the Grey Power ... More>>

ALSO:

Economy: Supply Chain On Brink Of Overload Says National Road Carriers

The New Zealand supply chain is on the brink of overload and it looks like the upcoming peak imports season may push it over the edge says National Road Carriers Association (NRC) CEO David Aitken. “Worldwide supply chains are in disarray,” says Mr Aitken. ... More>>

Retail: Supermarkets Announced As Government’s Second Market Study

The Government has today launched a market study to ensure New Zealanders are paying a fair price for groceries. More>>

ALSO:

Statistics New Zealand: Retail Sales Recover In The September 2020 Quarter

Retail sales values recorded the largest September quarter rise since the series began in 1995, Stats NZ said today. Spending on major household items, vehicles, and groceries contributed to the strong 7.4 percent ($1.8 billion) rise in total ... More>>

Kea Aerospace: New Zealand Flies Into The Stratosphere

Development has started on a solar-powered, unmanned aircraft that can fly in the stratosphere continuously for months at a time. The zero-emission aircraft will carry a suite of imagery equipment that will be game-changing for many industries, vastly ... More>>

Stats NZ: Births And Deaths: Year Ended September 2020

Births and deaths releases provide statistics on the number of births and deaths registered in New Zealand, and selected fertility and mortality rates. Key facts For the year ended September 2020: 57,753 live births and 32,670 deaths ... More>>

ALSO:


Forest & Bird: Kākāpō Wins Bird Of The Year 2020

The nation has voted and Aotearoa New Zealand has a new Bird of the Year. New Zealand’s moss-colored flightless parrot has climbed to the top-spot for the second time in Forest & Bird’s annual Te Manu Rongonui o Te Tau/Bird of the Year competition. ... More>>