Finally got a chance to look at the Top 20, and again, big...

Finally got a chance to look at the Top 20, and again, big holders continue to increase their holdings.

	Column 1	Column 2	Column 3	Column 4
0	Holder	2016	2017	2018
1	JP Morgan	19M	40M	43M
2	Morgan Stanley	15M	43M	66M
3	Romida Enterprises Pty Ltd		58M	95M
4	HSBC	18M	15M	18M
5	Kojent Pty Ltd		87M	143M

Romida appears to be Mike de Gama (Nostra Data) and Kojent might be a nominee account for a founder. Wavey Industries is Josh Swinnerton.

Which suggests some of these increases have not come from buying on market but share entitlements and options. Robert Read is back in the Top 20 after receiving a few million.

The banking groups likely did buy on market which can be seen from the recent Substantial Holder announcements from Morgan Stanley. They appeared to have accumulated by stealth from April to August.
https://hotcopper.com.au/threads/ann-becoming-a-substantial-holder-from-ms.4381220/#post-35133266

The remaining smaller holders have mostly stayed the course since listing with some selling down. Gary Gascoigne was holding 16M, now 8M.
https://www.asx.com.au/asxpdf/20151130/pdf/433f7hn4y4hbs1.pdf

Whilst the options and share entitlements dilute the register, they land in safe hands (Management) and not brokers or boutique advisors who may cut and run as soon as they receive them.

A grand total of $47 was traded today and it was through Chi-X. I suspect both big holders (Top 20) and small (retail) are holding tight, not wanting to let go of too much. With PDX Inc integration due this calendar year, revenue from US pharmacies will hopefully see it land in Q3FY19.