Methven yet to receive substantial shareholder notice as buyer pays premium for 6.4% stake

Tue, 04 Sep 2018

By Paul McBeth Sept. 4 (BusinessDesk) - Methven hasn't received notice from a mystery investor who paid a premium for 6.4 percent of the tapware maker's shares, but takes it as a ringing endorsement of plans to grow profit. Reuters data show 4.7 million Methven shares were bought at $1.20 apiece today, a premium to yesterday's closing price of $1.10 and the highest they've been since May last year. First NZ Capital analyst Greg Main kept his 'outperform' rating on the stock last week and raised his target price to $1.30 from $1.25 af...

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