Allco says no share sale planned to repay debt

Sun Feb 24, 2008 9:26pm EST
 
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SYDNEY, Feb 25 (Reuters) - Allco Finance Group Ltd (AFG.AX: Quote, Profile, Research, Stock Buzz), a troubled Australian asset manager, said it did not plan to sell new shares to raise money to repay its outstanding debts, Chief Executive Officer David Clarke told a media briefing.

He said debts will be repaid by selling non-core assets. ($1=A$1.08) (Reporting by Denny Thomas;)

 

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