Californian PE fund buys near 9% of NZME

Thu, 10 Sep 2020

A small Californian private equity fund, Osmium Partners, has emerged as the owner of 8.8 percent of Auckland news publisher NZME.A filing to the NZX on Monday shows Osmium has been acquiring shares in NZME since July 30, when NZME shares were trading at 25 cents, having lifted off a low point in early April of 18 cents. NZME shares closed yesterday at 40 cents apiece, valuing Osmium’s stake at $6.9 million.It crossed the 5 percent threshold on Sept. 1, a week after NZME announced an unexpectedly strong net profit of $3 million for the ha...

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