Barrenjoey’s equity capital markets team launched a $428 million block trade in Dalrymple Bay Infrastructure after the market close on Thursday.Queensland’s Dalrymple Bay terminal exports coal to Asian power stations. Street Talk understands shares in the Queensland coal export port were priced at $3.72 – a 7.9 per cent discount to the last closing price – with 115 million securities on offer. This represents around 23 per cent of the issued shares.Sources said the trade is being done on behalf of major shareholder Brookfield which owns almost 50 per cent of the $2 billion market cap company via a special purpose vehicle BIP Bermuda Holdings IV.Brookfield has promised not to sell any further securities in Dalrymple Bay for six months. Barrenjoey underwrote the block trade via a fixed-price bookbuild.
so do we expect an open at $3.72 tomorrow?
DBI Price at posting:
$4.04 Sentiment: Buy Disclosure: Held
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