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Article: AUSTRALIA'S ALLCO FINANCE GROUP SHARES FALL FURTHER 12 PCT TODAY.

Article from:
AsiaPulse News
Article date:
March 10, 2008
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MELBOURNE, March 10 Asia Pulse - Shares in embattled funds manager Allco Finance Group Ltd (ASX:AFG) shed another 12 per cent today today as administrators took control of its major shareholder, Allco Principal Investments Pty Ltd (API).

Allco stock closed six cents, or 11.43 per cent, lower at 46.5 cents as the firm confirmed administrators were now in charge of its senior executives' personal investment vehicle, API.

Deepening investor concerns about Allco's high debt and complex structure has stripped more than $2 billion off its value since it began the year trading around $6.20.

Its all time high was $13.24, recording in February 2007 and ...

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