Powerhouse Ventures sells out of Syft

Thu, 18 May 2017

By Paul McBeth May 19 (BusinessDesk) - ASX-listed tech incubator Powerhouse Ventures has sold its 1.5 percent stake in Syft Technologies after deciding the investment was too small to hold much sway with the Christchurch-based gas analysis firm. Christchurch-based Powerhouse sold 929,000 shares for $996,900, having bought the stake for $99,000 in 2013, it said in a statement to the ASX. That was below a $1.3 million valuation the stake carried on Powerhouse's books after recent gains in Syft's share price, however it reflected a 76 perce...

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