PFI trading volumes at 8-year high ahead of index re-weighting

Wed, 17 Jul 2013

July 17 (BusinessDesk) – Property for Industry shares have gained to the highest in almost six years and the volume of trading is at an eight-year high as investors prepare for the specialist industrial property company’s elevation in the NZX 50 Index after its merger with Direct Property Fund. The merger almost doubled the enlarged group’s shares on issue to 412 million and increased properties in its portfolio to 83 from PFI’s existing 50. The value of the portfolio more than doubled to $814 million. NZX’s latest review of index weightings...

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