AMP issues share offer warning

AMP is warning New Zealand retail shareholders not to accept unsolicited offers to buy their shares at prices significantly below their current market value.

AMP said some shareholders have recently received letters from a group called Share Buyers offering to pay A$2.29 ($2.82).

This was significantly lower than AMP's closing share price of $6.61 on July 27, AMP said.

"AMP is in no way involved or associated with this offer by Share Buyers. We strongly suggest shareholders not accept this offer as it is significantly below the market value of the shares," said AMP's external relations manager Veronica Ruddenklau.

By law, anyone can request shareholder details from a publicly listed company. The company has no legal means by which to refuse the request for the details, which include shareholders' names and addresses.

AMP shares were trading at $6.51 this morning.

- NZPA