Marlborough Lines is inching closer to its goal of owning 10.1 percent of Horizon Energy Distribution Ltd.A notice to NZX today discloses it has a 9.24 percent stake.Marlborough Lines is using First NZ Capital to stand in the market to buy shares. The sta
Marlborough Lines is inching closer to its goal of owning 10.1 percent of Horizon Energy Distribution Ltd.
A notice to NZX today discloses it has a 9.24 percent stake.
Marlborough Lines is using First NZ Capital to stand in the market to buy shares. The stand is at $4.06 now that the record date for a nine cent a share dividend has passed.
The company's share price rose by 23.44 percent on Monday when the stand in the market was revealed.
Whakatane-based Horizon Energy is 77.3 percent owned by the Eastern Bay Energy Trust, which itself wants to move to 100 percent ownership to ensure local control.
Marlborough Lines owns a half share in Nelson Electricity and 51 percent of OtagoNet.
