Weekly briefs
AMPAM launches private capital, Star Wars II, New online service, NPT offer extended.
Sunday, November 14th 1999, 12:00AM
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The firm has been actively developing the private capital market in New Zealand over the past year with deals such as the Eastern Equities management buyout that was completed last week.
Essentially investors are providing capital to businesses, but through an unlisted market.
AMPAM says private capital is on the increase globally and in the past 10 years funds flow into this sector in the United States has tripled.
Investors who partake in the IPO-style offering are taking on an asset which has an aggressive risk profile, and they will have their money locked up for 10 years.
Full details of the offer will be made public on November 19 and the offer itself will open on November 22.
For more information on AMPAM's offer click here.
Star Wars II
Morningstar says it is planning to take legal action in Australia to stop a rival researcher Assirt using a star rating system.
Assirt recently announced plans to change its rating to a star based system.
Morningstar managing director Graham Rich told Money Management that his group is pursuing legal channels for possible contravention of the Trade Practices Act.
He believes having another star rating system will create confusion in the market place.
Assirt managing director Brett Sanders says stars are used for all sort of things.
"People who use our ratings have shown a preference for stars. Investors seem to like them and if that is what they want, why shouldn't we give it to them?"
Rich also says he is trying to negotiate the issue.
New online service
DF Mainland have introduced a new online share trading system designed to make buying and selling shares easier.
The system includes charts from Henley communications, real-time price information, the ability for investors to enter their own buy and sell orders, plus access to research and portfolio valuations.
Its new brokerage rates are 0.7 per cent with a $20 minimum.
National extends offer period
National Property Trust has extended the closing date for its $5 million unit placement by three months, but it closed its one-for-four cash issue on Friday.
The trust aims to raise $9 million from the cash issue, offering units at 90c with one free option attached, plus the opportunity to subscribe for extra units at the same price.
The total placement, including the cash issue, will increase the trust's assets by 25 per cent to $70 million.
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