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Harmoney drops 6.3% ahead of escrow lifting

Paul McBeth
Tue, 31 Aug 2021

The stock has tumbled from its IPO price. (Image: supplied)
Paul McBeth
Tue, 31 Aug 2021
Harmony shares dropped back below $2 ahead of cornerstone investors being free to sell some of their shares tomorrow.The escrow restrictions will relax following the online lender posting its debut annual result as a listed company today.The stock was down 6.3% at $1.93 on the NZX in early afternoon trading, having tumbled from the $3.75 initial public offering price when the lender went public last year.A quarter of the near 73 million shares of Harmoney's 100.9m shares on issue come free tomorrow afternoon when the first escrow period end...

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