AMP is almost at 60pc

AMP Property Portfolio had just under 60 per cent of Capital Properties by late yesterday evening.

The bid was open until late last night and a spokeswoman said the company had yet to decide whether it would extend the offer.

Property Portfolio, an unlisted fund managed by AMP Capital, has achieved its primary goal of winning 50 per cent control.

But the spokeswoman said it would accept other shares on offer as it had made a full takeover offer.

"Everything north of 50 per cent is good and we will take what we get," the spokeswoman said.

If AMP got to 90 per cent, it would compulsorily acquire the remainder.

Hamilton Hindin Greene broker Grant Williamson said the market was interested to see if AMP Property would extend the offer.

On the sharemarket, Capital Properties shares closed 1c up at $1.47, 1c below the offer price.

- NZPA