US investment fund Capital Group has taken a 5.4 percent interest in Infratil, buying shares from Utilico Investments, a UK investor managed by Infratil director Duncan Saville's ICM.
Los Angeles, US-based Capital Group bought 22.6 million shares at $2.28 last Thursday, an investment of about $51.7 million, bringing their total number of shares in the company up to 30.4 million, according to a substantial shareholder notice lodged with the stock exchange.
In a separate notice, Utilico said it reduced its holding to 8.8 percent, selling 17.1 million shares at $2.28, from its previous holding of 11.8 percent. The UK investor reduced its Infratil stake in December from 13.3 percent.
Utilico used to be known as Infratil International, whose directors included Saville, one of the original directors and a founder of Infratil.
Infratil shares were unchanged at $2.31 at the open of trading today.
This article is tagged with the following keywords. Find out more about MyNBR Tags
- Pumpkin Patch loss widens 71% as sales slide, debt mounts
- New Crimson capital values founder Jamie Beaton's stake at $73m
- Equity crowdfunding site folds in market shake-up
- Brown lauds family and Maori in valedictory speech
- MARKET CLOSE: NZ shares rise in global rally, index led by Orion Health, Fisher & Paykel
Most listened to
- Taryn Hamilton on why you need 1 gig UFB
- ASB economist Daniel Snowden: Businesses only see the kiwi dollar dropping by 4% in 12 months
- ‘If you want to go around telling people how they should think, don’t do it with taxpayer money’ – David Seymour on Susan Devoy
- Craigs' Grant Swanepoel on how he expects Z to reconfigure the Z and Caltex brands
- Cameron Officer details the latest motoring news