Moa receives price inquiry from NZX after shares jump by almost half
Moa's share price has risen 47.5% since June 27 to a peak of 87c from 59c.
Hot Topic
Hawke’s Bay
UPDATED 6:30pm: Moa executive director David Poole buying shares in latest rally
Moa Group [NZX: MOA], the Marlborough-based brewer, has been hit with a price inquiry from NZX following a big jump in the price of its shares in the last few weeks.
Moa's share price has risen 47.5% since June 27 to a peak of 87c from 59c.
In a letter published to the NZX, Moa's chief financial officer Geoff Copstick said the Blenheim company "continues to fully comply with all NZX Listing rules including the continuous disclosure of material information."
It's Moa's second please-explain notice this year. On January 1, the company shrugged off an NZX inquiry after its shares leapt 42% in the days around Christmas.
The shares have since fallen back slightly to trade at 85c , a rise of 15% on the day. They've risen 7.3% since the start of the year and are up 138% on a year ago. They remain well below the initial public offering price of $1.25 achieved when Moa floated on the NZX in 2012.
(BusinessDesk)
Edwin Mitson
Wed, 13 Jul 2016
Wed, 13 Jul 2016
© All content copyright NBR. Do not reproduce in any form without permission, even if you have a paid subscription.
Moa receives price inquiry from NZX after shares jump by almost half
59879