UPDATE: Rank Group confirms plan to sell down Carter Holt stake in IPO

Tue, 12 May 2015

(Adds adviser comment starting in fourth paragraph) By Tina Morrison May 12 (BusinessDesk) - Rank Group, owned by billionaire Graeme Hart, confirmed plans to sell down its stake in building products supplier Carter Holt Harvey in an initial public offering and list the shares on the New Zealand and Australian stock exchanges. Auckland-based Rank Group plans to retain a significant stake in the company, it said in a statement, without providing further details. Media reports last month suggested Rank would sell 70 percent of the busines...

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