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Article: Over Fifties enters the share lists at a modest premium.
- Article from:
- Australasian Business Intelligence
- Article date:
- March 26, 2002
CopyrightCOPYRIGHT 2002 News provided by Comtex. 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)
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Mar 26, 2002 (The Sydney Morning Herald
ABIX via COMTEX) -- Australia's second-largest friendly society, OFM Investment Group, made its stock market debut on 26 March 2002. OFM's shares, issued to its 38,000 member-shareholders at $A1.65, finished the day at $A1.80. OFM is the holding company for the Over 50s Mutual Friendly Society, which was founded in 1980 and demutualised in mid-2000. The company plans to use its $A54.7m capital base to expand in property investment and financial services. The group, a registered life insurance company, is mainly directed at people over 50 years of age and offers products such as mortgage trusts. OFM is forecasting a net ...