JK - could be the underwriters selling them on market - look at what happened to SUN
but I have another theory. Please fell free to chew holes in it.
The majority of the 650 million shares in the DRP scheme are large Fund managers and Institutional holders.
Over the next 15 days they drip feed 10% of thier WBC holdings on to the market driving down the share price (Easy enough to do in the currant climate). Once the DRP price has been set they reinvest back into WBC driving the shareprice back up.
They get a possible 25% additional shares with a 2.5% discount and no broker fees.
The question is "why wouldnt they do it.
hits 4 year low, page-51
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Last
$28.05 |
Change
0.150(0.54%) |
Mkt cap ! $97.26B | |||
| Open | High | Low | Value | Volume |
| $28.04 | $28.22 | $28.00 | $68.18M | 2.425M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 29 | 4222 | $28.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $28.06 | 13128 | 32 |
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| Last trade - 14.56pm 15/07/2024 (20 minute delay) ? |
| WBC (ASX) Chart |