No takers for Sky City's Force stand

The gambling and entertainment company, which is now the majority holder in Force after buying 50.2% from Francis Securities, was offering 25 cents per share.

Executive director of UBS Warburg, Robert Sinclair, says today's lack of sellers was not surprising.

"Sky City's main objective was to gain control of the company, but it went through with the stand to ensure that minority shareholders also had access to the offer."

Mr Sinclair says the lack of sellers shows people are comfortable with SKC's majority shareholding and will expect it to add value to Force.

Force chairman, Peter Francis, says he believes Sky City will bring a new dimension of expertise to the company.

Sky City says it expects to generate synergies between the two businesses and to improve product offerings and marketing initiatives.

Force owns Village Force Cinemas in a 50% joint venture with Australian-based Village Roadshow. It operates 12 sites nationwide with 72 screens under the Village Force and Rialto brands and has investments in Fiji and Argentina.

Force shares closed at 26 cents.

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