TXN 0.00% 58.0¢ texon petroleum ltd

4 million crossing before the market @ 65, page-2

  1. 640 Posts.
    I've been told it was RBS placing a Macquarie Insto holding back to retail holders.

    I've checked the top50 and that is definately feasible = early in march they were #3 with just under 5m shares.

    I asked the qu "why are they selling out just before a major transaction?" and was told they use their holdings to get work raising debt for various companies - not as an investment... ie its a kind of a sales generation tool for the macquarie guys or a marketing slush fund... and given that TXN will not need debt they want to redeploy the funds to another potential client.

    I remain skeptical ... but as I don't know any of the Macquarie guys to check I can't contradict it.
 
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