PACIFIC Brands scrip has run out of puff and some of the parties that more than doubled their money have moved on to the next conquest. The big moment for punters was when the company earlier this year decided to issue shares at one-third of the levels prevailing a year earlier.
There were plenty of takers for the scrip, among them David Paradice's fund management operation. Soon after the issue, Paradice emerged with close to 6 per cent of the register at a 72¢-a-share average price.
Pocketing $1.30 for a decent chunk of stock, Paradice has moved off the substantial shareholder register. The shares last fetched $1.235.
PBG Price at posting:
$1.24 Sentiment: None Disclosure: Held
