Milford Asset emerges as 2nd biggest shareholder in Tourism Holdings

Tue, 03 Sep 2013

Sept. 3 (BusinessDesk) - Milford Asset Management, with more than $2 billion under management, has emerged as the second-biggest shareholder in Tourism Holdings, building a 14 percent stake in the rental campervan operator. The Auckland-based fund manager spent almost $7.1 million buying 10.4 million shares in Tourism Holdings at 68 cents apiece on market yesterday, according to a substantial shareholder notice to the NZX. That took the firm’s stake to 14 percent, or about 15.4 million shares, behind Sterling Grace’s 17 percent holding. The...

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