RAINBOW AND EQUITICORP PLACE ULTRAMAR STAKE New Zealand investment companies <Rainbow Corp Ltd> and <Equiticorp Holdings Ltd> have placed the majority of their joint shareholding in oil and gas conglomerate Ultramar PLC <UMAR.L> at prices up to 2.20 stg per share, the companies said in a statement. The companies said they had bought their 4.9 pct stake in Ultramar for a total of 50 mln N.Z. Dlrs through a joint venture company formed for that purpose in October. They said the joint venture made a profit of 15 mln N.Z. Dlrs on the deal, but they did say how many shares they had sold. No further details of the sale were available.