Meridian entry price massaged to be $1 a share

Fri, 20 Sep 2013

By Pattrick Smellie Sept. 20 (BusinessDesk) – Almost one million extra Meridian shares have been issued to bring the entry price for participation down to $1 a share in the first instalment of the government’s second partial privatisation. Offer documents released today show the dilutionary effect of issuing nearly 963 million additional shares is calculated so that would-be investors understand they are being asked to put $1 down to play in the first instance, with a second payment due in 18 months’ time of no more than 60 cents. The move i...

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