B&Y is a stockbroking firm that transact for its clients. 300m...

B&Y is a stockbroking firm that transact for its clients. 300m shares could be spread in various quantitities amoung 100's of clients, with some clients having, for example 5000 shares or a few million and amounts in between. The client holding are not held under B&Y nominee account they are held directly in clients chess accounts. 300 m could have easily been accumulated over the past 4-5 years and in placements. Who knows some of their clients could be in the top twenty.
Its no difference to comsec or etrade