4.0 million seller, page-2

Olddizzy,

The main culprit in suggesting that the 4mn seller was not real and was a blatant cap was me.

I work in IB and I could not believe that a real seller would attempt to sell more than 1% of MNE's quoted equity by putting the whole lot in sell depth in one go.

If a client of mine has asked me to sell such a position I would have broken it into multiple parts and sold the position over several days, also I would have put bids in the bid depth below market to create the illusion of increased bid depth thus encouraging new buyers to place their bids above me and giving me something to sell into. Such a strategy would have allowed an exit of around 2.2c at least in my opinion and would not have pushed the SP down to 2c.

Anyway the position is now sold and there was solid demand for MNE at 2c as on screen buyers took the lot.

I might add that I am not based in Australia and so I am not responsible for any manipulation of MNE's SP, I am just saying how I believe it should have been done.

EB