It is spooking the whole market re: the shares they own.
I own a few and they have all sunk to crazy lows and cannot get a head of steam up - either directly due to ANZ selling, or due to anxiety about buying up when ANZ can crash the price back down any moment.
ANZs policy is pretty clear - sell off the stocks to raise capital - and are selling into every rally on multiple stocks - very frustrating - particularly when you have spent all your money.
On announcement of an off-market sale of this overhang the SP will likely jump back to the mid-40s or above with good news.
This was a steal at 50c.
SEA Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
