Steel and Tube eyes NZX50 after Arrium sells out majority stake for $91.2 mln

Wed, 10 Oct 2012

Oct. 10 (BusinessDesk) - Local steel products maker Steel & Tube is looking at a return to the NZX 50 index after ASX-listed owner Arrium sold its majority stake for $91.2 million. Steel & Tube chief executive Dave Taylor told BusinessDesk the underwritten sale of the shares by Craigs Investment Partners was a done deal and will add a number of institutional investors to its share registry. He expects the greater liquidity will help Steel & Tube return to the benchmark index at its next review, which would generate more interest in the compa...

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