24/09/2009 - 17:11

AHG makes $7m from carsales.com sale

24/09/2009 - 17:11

Bookmark

Save articles for future reference.

Car dealer Automotive Holdings Group has made more than $7 million profit after it sold a parcel of shares in newly floated carsales.com.

AHG makes $7m from carsales.com sale

Car dealer Automotive Holdings Group has made more than $7 million profit after it sold a parcel of shares in newly floated carsales.com.

The West Perth-based company said it sold 2 million carsales.com shares, or 4 per cent of its shareholding, at $3.71 each to pocket $7.43 million.

It said it would record a $4.92 million profit on the sale in its 2010 financial year report.

Shares in carsales.com closed down six cents at $3.72 while shares in AHG closed up two cents to $2.05 today.

STANDING BY BUSINESS. TRUSTED BY BUSINESS.

Subscription Options