Metbank snaps up Interfresh shares

Metbank snaps up Interfresh shares
Published: 09 September 2013
Metbank Limited has snapped up a 32.1% stake in Interfresh Limited after taking up 63.7 million shares as the underwriters to the horticultural concern's poorly subscribed rights issue which closed last month.

This effectively dilutes Interfresh's majority shareholding, which previously had Drove Gate Investments with a 33.08% stake, 19.48% in the hands of Old Mutual Life Assurance Company and 15.67% held by Msasa Nominees.

TN Securities and EW Capital completed the top 5 with 4.61% and 2.14% stakes respectively.

Metbank paid $1.26 million to take up the scrip after only 57.53% of Interfresh's existing shareholders followed their rights in the $3 million offer, which closed on August 28.
- sundaymail


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