In the CSPA auction. Could be many reasons for a large sell...

In the CSPA auction. Could be many reasons for a large sell order placed in a CSPA queue (4-4:10pm) and not during normal trading hours (to 4 pm).

Not ominous in this instance IMO and without broker data we don't know who the "seller" was.

I won't post links to CSPA articles online or to UNSW's 2018 consultation paper to ASIC et al on the subject. Everyone can form their own opinion and do research on CSPAs. (I'm not a fan of CSPAs).

A few possible sell scenarios:

Could be a retail (individual) investor wanting to cash in for a myriad of reasons.

Or a managed fund with tax implications for holding longer term. Doesn't mean the fund won't buy back in.

Or anyone wishing to avoid further and future CGT implications for a private or SMSF holding. SMSF's now having a $1.6 m cap.

Too many reasons to list when you start looking at CSPA, CGT and taxation information.

Other reasons:
- 'key' others who may know ADI is about to be approved and if the sale of their shares occurred post ADI approval, may cause 'comment or scrutiny' if they sold at a higher price within the next few weeks;
- a top 20 holder with a large tax bill or wishing to realise a gain;
- a top 20 holder wishing to buy property or an island! in the northern hemisphere'
- a major shareholder having to report or comply with https://www.asx.com.au/documents/rules/Chapter03.pdf

Obviously, it is none of us who have posted on HC above. I wonder if the ADI is imminent? Will be looking at APRA's website Monday 2 September although that is only the official monthly/tally update we can view.