ACC feels pain of finance share plunge

The Accident Compensation Corporation will be feeling the pain of Dominion Finance's share price plunge.

The Crown entity bought into the company when it floated on July 14, 2004, with the share price ending that day on 91 cents. Yesterday shares plummeted on the lifting of a trading halt, ending the day on 12 cents.

Based on that figure, ACC would have made a paper loss of $707,136.90 on its 1.25 per cent stake in the company.

A spokeswoman said the investment represented less than 0.1 per cent of ACC's New Zealand equity portfolios.