Lombard to issue new shares

Financial services firm Lombard Group plans to raise up to $10.5 million through an issuance of new shares.

Lombard plans to issue up to 350 million new shares at 3c each .

The offer opened yesteday and is due to close on March 31.

Lombard said it intended to be active across all areas of the financial services sector, anchored by Lombard Finance & Investments which operates as a commercial lender and financier.

The company joined the stock exchange just before Christmas through a reverse takeover of Pure New Zealand.

- NZPA