NZME shareholder takes profit

NZME shareholder takes profit
Osmium Partners was buying shares in 2020, often for less than 25 cents each. (Photo: file)
Dan Brunskill
Large NZME shareholder Osmium Partners sold more than $11 million worth of shares in the three months ended May, a new disclosure shows.Osmium Partners told the NZX it had sold 8.6 million shares, for about $11.7m, by the final week of May. The Californian investor still holds an 11.4% stake in NZME, down from 15.6%.The investment firm started buying shares in NZME during 2020 when its share price was seriously depressed with advertising revenue drying up during lockdown.Osmium's chief investment officer John Lewis told BusinessDesk last ye...

More Markets

US giant's Three Waters win could be unwound
Infrastructure

US giant's Three Waters win could be unwound

Gentrack queries Koch-owned firm's win. DIA says there will be an 'off-ramp'. 

Tower announces ‘prudent’ strategic review
Markets

Tower announces ‘prudent’ strategic review

Tower believes a 'thorough examination' of its ownership structure is a good idea.

Carbon auction set to fail, depriving the govt of $900m
Markets

Carbon auction set to fail, depriving the govt of $900m

But it may set the scene for record carbon high prices in 2024.