Wellington-headquartered Infratil told the New Zealand Stock Exchange today that it had spent almost $US3 million ($A2.30 million) acquiring more than 2.3 million Austral shares, boosting its total stake in Austral from 10.84% to 17.88%.
Infratil said the additional securities were purchased for investment purposes only and that it had no intention of acquiring further stock in Austral.
The latest shares acquired – being 2,307,700 common shares – were part of a private placement by Austral at a price of $US1.30 per share for a total cash consideration of $US2,999,100.
