NZME shareholder takes profit

Osmium Partners was buying shares in 2020, often for less than 25 cents each. (Photo: file)

Fri, 03 Jun 2022

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...

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