NewsBite

Austock Group

November 2014

Childcare spat the first salvo in long fight

A skirmish for control between childcare property trusts Arena REIT and Folkestone Education Trust may be the first salvo in a longer campaign for consolidation in a boutique but growing asset class.

  • Nick Lenaghan

June 2014

Linc hires PAC Partners to find buyer for coal assets

Singapore-listed Linc Energy is pushing ahead with plans to sell its Australian coal assets, organising meetings with potential trade and private equity buyers for next week.

  • Sarah Thompson, Anthony Macdonald and Gretchen Friemann

May 2014

Court battle looms for Olney-Fraser

ASIC’s case against Mariner is shaping up for an old-style courtroom grilling of key witnesses to allegations the corporate raider, led by Darren Olney-Fraser, launched an unfunded takeover bid.

  • Nick Lenaghan

April 2014

Beacon Lighting blazes trail to IPO

Beacon Lighting Group founder and chairman Ian Robinson and silent partner electrician Martin Hanman began planning for the latter to cash out via an initial public offering six years ago.

  • Updated
  • Sally Rose

Property updates

Demand for office space in the Sydney central business district declined from 1.2 per cent to 1.1 per cent in the March quarter, according to the DEXUS barometer.

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ASIC takes action against Olney-Fraser

Corporate raider Darren-Olney Fraser is facing the prospect of disqualification and fines over the conduct of his failed tilt at Melbourne-based Austock Group.

  • Updated
  • Nick Lenaghan

January 2013

Property briefs

Austock Group has sold its remaining 35 per cent stake in its property funds management business to Folkestone for $5.5 million. Folkestone bought 65 per cent of the business in September.

October 2012

Wilson HTM bid could prompt more shuffles

Beleaguered broking house Wilson HTM has been offered a lifeline, but do not expect the company or its shareholders to latch on to this offer.

  • Updated
  • Sarah Thompson and Anthony Macdonald

August 2012

Austock settles Groves share sale claim

Failed child-care tycoon Eddy Groves has settled a multimillion-dollar legal claim against Austock in a confidential deal, but the stockbroker says it has not admitted liability.

  • Updated
  • Patrick Durkin

July 2012

Austock Group (ACK)

Former broker Austock Group, which was recently a takeover target by corporate raider Mariner Corporation, is looking to sell its $555 million property funds management to Folkestone.

  • Updated
  • Ruth Liew

Nomura, Instinet to merge by year-end

Global agency broker Instinet is expected to have completed the merger of its operations with Japanese parent Nomura in Australia by the end of the year.

  • Updated
  • Sarah Thompson and Anthony Macdonald

June 2012

Austock lambastes Mariner bid

The chief executive of former embattled mid-tier broker, Austock, has slammed corporate raider Mariner Corporation’s recent takeover bid as “unwelcome” and “certainly against shareholders’ wishes”.

  • Updated
  • Ruth Liew | Joyce Moullakis

Goldman, JBWere in talks to extend retail agreement

It doesn’t get much tougher than retail stockbroking at the moment. Just ask Austock and Wilson HTM.

  • Sarah Thompson and Anthony Macdonald

May 2012

Austock appoints new chief executive

Diversified financial services company Austock has appointed company director Bill Bessemer as its new chief executive – the group’s third CEO in three years.

  • Updated
  • Ruth Liew

Mariner may be fishing for Austock

Now that Austock has bowed to trading room pressures and offloaded its brokerage business to Intersuisse, attention has turned to what will happen to Austock’s rump, which continues to trade on the Australian Securities Exchange.

  • Sarah Thompson and Anthony Macdonald
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March 2012

Paul Masi appointed Austock CEO

Masi brings a wealth of experience to Austock but has the market forgotten the botched CBA raising?

  • Updated
  • Jamie Freed | Sarah Thompson

September 2011

Broker lobby to resist ASIC capital plan

The Stockbrokers Association of ­Australia will argue against a rise in capital for brokers which do not clear their own trades, although some of its members take the opposite view.

  • Updated
  • Matthew Drummond

Financial services briefs

Moody’s Investors Service has confirmed the ratings of 10 tranches of residential mortgage backed securities issues by non-bank lender Firstmac. The tranches were placed on review for downgrade in March.George Liondis

August 2011

Company briefs

Gina Rinehart’s Hancock Prospecting sold 1.19 million Ten Network shares for just over $1.1 million, trimming its stake from 10.11 per cent to 10 per cent.

January 2011

Large GrainCorp stake offloaded

Grain Growers Limited, the largest shareholder in GrainCorp, last night sold its entire stake of 16.8 million shares, or 8.45 per cent, of eastern Australia’s biggest grains handler. Melbourne-based Austock Group offered the shares to institutions at $6.95 - an 8.7 per cent discount to the closing price of $7.61 - in a deal worth about $116.8 million.

  • Updated
  • Sarah Thompson and Paul Garvey

Original URL: https://www.afr.com/company/ack-6i