NZX's SuperLife lifts Energy Mad stake to 45.6% with $2.2M rights offer underwrite

Mon, 30 Mar 2015

March 31 (BusinessDesk) - SuperLife, the funds management business owned by NZX, has lifted its stake in Energy Mad to 45.6 percent after underwriting the unprofitable lightbulb maker's $2.2 million rights offer. SuperLife Trustee Nominees picked up 20.4 million shares through the underwriting agreement for a total 34.4 million shares issued in the four-for-five rights issue at 6.5 cents a share. It owned about 19 percent before the offer. The funds are to be used for general working capital and to fund Energy Mad's LED bulb strategy. The...

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