Busi­ness Brief­ing

Stake boosted

The New Zealand Herald - - BUSINESS -

Chi­nese in­vest­ment man­ager Citic Cap­i­tal, which over­sees US$21 bil­lion ($30.5b) of as­sets, has boosted its stake in Tourism Hold­ings to al­most 11 per cent, hav­ing emerged as a sub­stan­tial share­holder in the mo­torhome op­er­a­tor this month. The in­vestor bought 4.2 mil­lion shares for an ag­gre­gate $20.4m in a se­ries of on­mar­ket pur­chases be­tween Oc­to­ber 16-27, rep­re­sent­ing an av­er­age price of $4.85 a share, ac­cord­ing to a sub­stan­tial share­holder no­tice to the NZX.

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