Wbc has invested 49 mill in Z1p since 2017
They sold the investment for 360 mill.
A profit of 311 mill.
Wbc was hit with the biggest fine in Australian Corporate History earlier this year.
The 311 mill profit will go a long way towards paying that fine.
I believe it to be a frugal move to help clear their books.
I think the move will be good for the Wbc Share price in the long run.
I don't find it bearish for Z1p Wbc sold the stock.
I find it bullish some one was waiting to grab that much stock.
Wbc has a market value of 66 bill
Apt 29 bill
Z1P 3.6 bill.
Z1p has a very bright future.
Wbc are continuing to build their relationship with Z1p.
Ok !! Today Wbc sold out, they will be back in some time soon.
Perhaps in a bigger way than we all imagine.
At 3.6 bill this stock is now very cheap by any ones reckoning.
Westpac sells Zip stake, page-196
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Open | High | Low | Value | Volume |
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5 | 74230 | 1.405 |
7 | 554124 | 1.400 |
4 | 129603 | 1.395 |
5 | 133073 | 1.390 |
Price($) | Vol. | No. |
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1.415 | 56101 | 5 |
1.420 | 211210 | 9 |
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