Stewart family emerges with substantial stake in SeaDragon

Mon, 10 Oct 2016

By Paul McBeth Oct. 11 (BusinessDesk) - Christchurch's rich-lister Stewart family has built up a substantial stake in SeaDragon, exercising more than half the rights issued to prop up the fish oil manufacturer. Pescado Holdings, a subsidiary of the family's Masthead Holdings, exercised 652 million rights for a total price of $5.2 million, representing 59 percent of the securities, SeaDragon said in a statement. The company said it has raised $8.8 million with about 70 percent of the rights exercised. Seadragon wants to raise up to $1...

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