The additional $10 million worth of shares offered by the DNZ for its property fund, valued at $45 million received a good response from the investors, as told by the Board.

The existing shareholders purchased shares for $8.25 million only. Those shares, which were not subscribed by the shareholders, were offered to the individual investors through a book building process and thus, applications were invited for the same.

The shares of the Company were traded on the unlisted market for the previous offer. But for the new offering, the shares will be listed on NZX, on the next Monday.

The Securities Commission issued a warning against Bernard Whimp of Christchurch, who is a low-ball bidder of DNZ shares and also a defaulter, who was accused of robbery and stealing documents of a Company in liquidation. He was dethroned from the position of Director from the Company.

DNZ suggested its investors against his Carrington Securities LP, which were offered at 60c a share. But, the Securities Commission alleges any such advises, as the shares were not trading on any market.

The Commission said, "The Securities Commission reminds investors to be cautious of any unsolicited offer to purchase their investments and urges investors to seek professional advice before making any decision to accept the offer".

It further added that it is not against the law to purchase securities below their face value, provided the offer is not bogus.