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WA this week 10 years ago - Hartley Poynton readies for float

PERTH broking firm Hartley Poynton announced plans to raise $10 million when it floats on the Australian Stock Exchange in August 1996. As the largest broking firm in WA, the company expected to issue 10 million shares at $1 in what was to be the first listing of a broker since McIntosh floated in August of 1987. It predicted a forecast operating profit after tax for 1995-96 of $5.6 million and an 8 per cent fully franked dividend yield for 1996-97.

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