My information is that there's a range of institutions involved but not one big overseas buyer as some had speculated. The biggest buyer is probably Santos who I believe maintained their % holding by taking a large slab (ie. close to 20% of the placement). By my calculation they would have had to take around 23m more shares. That is significant IMHO as it shows that they are determined to retain a firm hold on ESG and also indirectly their overall ownership of the JV leases.
Should be well supported tomorrow. If the placement went through as thought at 84 then an open somewhere between 90 and 84 is likely ... 87-88 perhaps?
H
ESG Price at posting:
91.5¢ Sentiment: LT Buy Disclosure: Held
