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Positive ASX debut for AHG

WESTERN Australian car retail giant Automotive Holdings Group had a positive debut on the ASX last week, opening at $1.14 a share, a healthy premium on its $1 issue price. About four million shares were traded in the first half hour and the stock hit a high of $1.20. It was trading at $1.15 at the time of this article. AHG also announced an expansion of its logistics division, with news that Rand cold storage and distribution had committed $4 million per annum to a new Sydney facility in Homebush for the next 15 years. The stock was trading at around $1.11 a share earlier this week.

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