Vista move dominates NZ sharemarket
The S&P/NZX 50 Index closed at 11,756, down 27.39 points or 0.23%, after reaching an intraday low of 11,709.95.
There were 65 gainers and 76 decliners over the whole market on volumes of 70.86 million share transactions worth $182.43m. A total of 50.44m Vista shares worth $105.92m were traded.
Vista, a global leader in cinema management software, rose 26c or 14.13% to $2.10 after Australian private equity firm Potentia Capital Management took an 18.45% shareholder, buying 43.86m shares on-market for $92.12m (at $2.10 a share).
Potentia is also buying a further 10.6m shares from Jarden Securities, increasing the holding to 19.9%. Potentia said if it made a takeover within 12 months and the offer was higher than the sale price, it would pay the difference to those who have just sold.
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