Hellaby Holdings jumps 7% on sale of equipment group

Wed, 29 Jun 2016

By Edwin Mitson June 29 (BusinessDesk) - Shares in Hellaby Holdings are the biggest riser on the NZX, jumping 7.3 percent to $2.65 off the back of the sale of its equipment group to a private equity fund for $81 million. The diversified investor said it had received an unsolicited approach from the Maui Capital Aqua Fund and had accepted the offer. It will realise a capital gain of about $30 million after costs and working capital adjustments on the equipment group's book value. The Auckland-based company said it would use the money to e...

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