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Current as of 27/06/16 07:40PM NZST

Lowball offer for Tower Insurance shares

Tower shares are currently trading at $1.54 per share. File photo / Paul Estcourt
Tower shares are currently trading at $1.54 per share. File photo / Paul Estcourt

There has been another lowball offer for shares in insurance and investment company Tower.

Australian based Stock and Share Trading Company has written to shareholders offering to buy Tower shares for $1, substantially below the $1.54 per share they are currently trading at.

A similar offer by the same company was made on June 15.

Tower has advised shareholders to seek independent advice and check the most recent market price for Tower shares on the New Zealand stock exchange.

- Newstalk ZB

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