From AFR below.
No knowledge of the story behind it, but it's hard to see it as a positive that a fund wants to dump 112M shares.
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Citi’s equities desk was seeking buyers for a $91.2 million stake in Paladin Energy on Thursday night.The broker was offering the 112.6 million shares at 81¢ each, according to terms sent to potential buyers.
The stock represented a 3.8 per cent stake in Paladin and had been owned by Ndovu Capital.
The trade was at a 5.8 per cent discount to the last close.
Ndovu Capital agreed to have its remaining interest locked up for 60 days. The investor retained 149 million shares or 4.99 per cent of the company, the term sheet said.
AFR: Ndovu Capital seeking to sell 112M shares
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Last
$11.41 |
Change
0.340(3.07%) |
Mkt cap ! $3.411B | |||
| Open | High | Low | Value | Volume |
| $11.12 | $11.41 | $10.72 | $70.22M | 6.258M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 96833 | $11.40 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $11.41 | 41345 | 1 |
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