Fisher & Paykel off NZX

Source:Xinhua Published: 2012-11-19 23:35:09

One of New Zealand's oldest and most reputable whiteware makers will be delisted from the New Zealand stock exchange, the NZX, this week following its takeover by Chinese appliance giant Haier.

Fisher & Paykel Appliance Holdings issued a notice to the NZX Monday to say Thursday would be the last day of trading in its shares.

Last month, New Zealand foreign investment regulators approved Haier's proposed takeover, clearing the final regulatory hurdle for the transaction to proceed.

Haier first offered NZ$1.20 ($0.98) a share on the table in September, but raised that to NZ$1.28 last month, claiming the new offer price represented a 71 percent premium to the pre-offer share price.



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