|
|
Article: BRITISH INSURER, FUNDS MANAGER HHG PLC MAKES STRONG ASX DEBUT.
- Article from:
- AsiaPulse News
- Article date:
- December 23, 2003
CopyrightCOPYRIGHT 2003 Asia Pulse Pty Ltd. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
SYDNEY, Dec 23 Asia Pulse - Shares in troubled British life insurer and funds manager HHG plc (ASX:HHG) made a strong debut on the Australian Stock Market today after being spun off from AMP Ltd (ASX:AMP).
HHG's shares hit the boards at 88 cents at 1200 AEDT and had soared to 95 cents within the first minute of trading on heavy volume of more than 35 million shares.
The opening price was a 22 per cent premium to the 72 cents (or 30 pence) a share paid by institutions in HHG's STG190 million ($A458 million, US$335 million) capital raising last week.
The stock will make its debut on the London Stock Exchange tonight.
The amount raised in ...