South Canterbury gets $15.5m equity top-up

Torchlight Fund No 1, the Pyne Gould Corporation-owned property funds manager, has confirmed it will invest a further $15.5 million in South Canterbury Finance.

The money, on top of $22 million investment previously announced, brings Torchlight's total investment in the finance company to $37.5 million.

The investment will be subscribed in full on May 31.

- NZPA