MFS Living and Leisure makes loss on sale of THL shares

Shares in Tourism Holdings Ltd (THL) were down 5c to $2.30 in early trade today, after 10 per cent of the company changed hands.

Queensland-based MFS Living and Leisure said yesterday it was conducting a book build for the sale of the 10 per cent stake in THL it acquired from the Cushing family.

The sale price of $2.20 for 9.8 million shares, is a loss for MFS which bought the stake for the then current market price of $2.76 in June.

MFS had sought a takeover of THL but was short when the $2.80 a share offer closed in July.

A trading halt on THL shares put in place round 10.45am yesterday was removed before the sharemarket's 10am opening today.

- NZPA