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A Houston-based investor has bought more than 5 per cent of stamp dealer and auction house Mowbray Collectables.
Announcing the acquisition, Mowbray managing director John Mowbray said the Commonwealth Australia and NZ Fund was his company's first major overseas institutional investor.
"This is encouraging for us and it's positive for the market. We are pleased they are on board and we will be watching their movements closely next year," Mr Mowbray said.
Mowbray shares last traded at $1.60 on Thursday.
- NZPA
