16 Nov 2012

6% of Moa held by Milford

8:05 pm on 16 November 2012

Milford Asset Management has acquired almost 6% of the brewing company Moa.

The fund manager paid $2.25 million for a stake in the boutique brewery when it made its debut on the stock exchange this week.

Moa's initial public offering was a $1.25 a share, and closed 2 cents up today, at $1.33.

The brewery is seeking to raise $15 million dollars from institutions and another $1 million from retail investors towards expanding its operations.

The public pool was oversubscribed by 124%.