@mool
These cross-trades are usually preplanned and instigated by the company.
Management would have been made aware some shareholders (probably vendors) wanted to sell a large block of shares. They would have contacted a broker to find a buyer.
What is pleasing to see is that despite the recent price pressure and the market tanking overnight, the cross trade was transacted at 40 cents.. or slightly at a premium.
Cross trades are usually done at a discount, also known as a liquidity discount. As you correct suggest, if the shares were to be sold on market - the price would be expected to fall considerably. 5% would be the norm for a large blue chip ASX company, so for FLC to execute a a slight premium sends a strong message.
The floor for any future cross trades is 40 cents, and those wanting to get in below that will need to buy on market.
Chart, page-4992
-
- There are more pages in this discussion • 3,076 more messages in this thread...
You’re viewing a single post only. To view the entire thread just sign in or Join Now (FREE)
Add FLC (ASX) to my watchlist
 (20min delay)
|
|||||
|
Last
12.0¢ |
Change
0.010(9.09%) |
Mkt cap ! $129.7M | |||
| Open | High | Low | Value | Volume |
| 11.5¢ | 12.5¢ | 11.0¢ | $43.08K | 370.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 75675 | 12.0¢ |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| 12.5¢ | 518962 | 4 |
View Market Depth
| Last trade - 16.10pm 28/06/2024 (20 minute delay) ? |
| FLC (ASX) Chart |