from yahoo finance
Fortescue shareholder sells $226 mln stake -source
Thursday July 31, 2008, 9:17 am
SYDNEY, July 31 (Reuters) - A large shareholder in Australian iron ore miner Fortescue Metals Group (ASX: FMG.ax) sold A$240 million ($226 million) worth of his stake to local and overseas investors, a source familiar with the deal said on Thursday.
The sale, which represents about 1.1 percent of Fortescue's issued capital, was managed by Goldman Sachs JBWere and Southern Cross Equities, the source told Reuters. He declined to be identified because the deal had yet to be made public.
The shareholder sold 30 million shares at A$8.00 each, the source added, a 4.8 percent discount to Fortescue's closing price of A$8.40 on Wednesday.
"The demand was strong, the book was well covered and well covered pretty early," the source said. ($1=A$1.06) (Reporting by Denny Thomas, editing by Mark Bendeich
30 mil shares bought, page-3
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Last
$20.35 |
Change
0.210(1.04%) |
Mkt cap ! $62.65B | |||
| Open | High | Low | Value | Volume |
| $20.41 | $20.76 | $20.26 | $183.4M | 8.943M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 3 | 2123 | $20.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $20.36 | 4581 | 2 |
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| FMG (ASX) Chart |