Brierley's Mercantile Investment raises $1.4 mln in discounted placement

Mon, 21 Dec 2015

By Paul McBeth Dec. 22 (BusinessDesk) - Ron Brierley's Mercantile Investments raised $1.4 million in a discounted share placement to local wholesale investors, which it plans to use for general investment purposes. The veteran corporate raider's investment vehicle sold about 11.2 million shares at 12.5 cents each to New Zealand investors in a placement, which will give them about 4 percent of the enlarged share register. That's a 19 percent discount to the 15.5 cents the shares last traded at on the NZX. The dual-listed shares were last...

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