Burger Fuel raises $2 mln in placement to Milford funds, founding shareholder sells down

Wed, 19 Dec 2012

Dec. 19 (BusinessDesk) - Burger Fuel Worldwide, which is expanding by licensing its burger chain concept in the Middle East, raised $2 million selling shares at a discount to funds run by Milford Asset Management. The Auckland-based company will issue 1.6 million shares at $1.25 apiece to the Milford Active Growth Fund and the Milford Active Growth KiwiSaver Fund, it said in a statement today. The shares jumped 7.1 percent to $1.50 on the NZX. The Milford funds are also acquiring 800,000 shares at the same price from Mason Roberts Holdings,...

Not convinced yet?

Subscribe to our Daily News Update free newsletter.

Markets market close
Positive earnings lift NZ sharemarket
Dan Brunskill | Fri, 20 May 2022

The NZ market was one of the few climbing markets as investors in other parts of the world worried about the risk of a global recession.

Law & Regulation
Unlawful collection of Companies Office fees fixed under urgency
Ian Llewellyn | Fri, 20 May 2022

The Companies Office's administration of fees may have saved costs, but the problem is it was against the law.

Markets FREE
Brian Gaynor: legacy of a towering financial figure
Brenda Ward | Fri, 20 May 2022

At his funeral in Auckland, family, friends and colleagues of Brian Gaynor recalled a passionate man who had the confidence and courage to back his sometimes controversial opinions.

Partner content
What’s driving the ram raids, and what shop owners can do

Scott La Franchie explains the motivations behind the spate of burglaries.

Partner content
Grow your business by taking time to plan

Getting business fundamentals right gives the best chance at beating the unplannable.