Hospital shares on offer from today

By ELLEN READ

Private hospital firm Wakefield Hospital will launch its float of 3.3 million shares today at $2.50 each, according to prospectus documents.

The issue, to raise $7.8 million after fees, will close on September 3. The issue price is set at the top end of an estimated $2 to $2.50 range in the company's annual report, published last month.

The annual reporting season kicks off in earnest this week, with market heavyweight Telecom due to release its numbers tomorrow.

Analysts' forecasts for the 2001 year profit are spread between $570 million and $625 million after tax, excluding the $221 million net dividend from the Southern Cross cable.

Frucor Beverages and rural services firm Wrightson also unveil their annual results tomorrow.

Last month, Frucor said it had boosted unaudited revenue 27 per cent to $228.4 million for the June year. The company, which listed a year ago, lowered its profit forecast in May by 35 per cent to $11.4 million, saying sales in Britain were likely to be well below predictions.

A ruling is likely early this week on Lion Nathan's application for a stay on an order by the Stock Exchange to sell the 19 per cent of Montana the brewer illegally acquired.

Attention will be sidetracked on Wednesday by the Reserve Bank's official cash rate review. Governor Don Brash is not expected to cut the 5.75 per cent rate, but there will be keen interest in his forward looking view.

The Tranz Rail board meets on Wednesday to decide on its dividend payment. The company reported a net profit of just $5.6 million for the latest June year.