Catcha sold at $1.50 : copyright link/street-talk/catch-group-sells-down-frontier-digital-stake
"The shares were being offered to funds at $1.50 each, which represented a 16.3 per cent discount to Frontier Digital's five-day VWAP, according to terms in front of funds."
why didn't they just sell down at market price $1.70 approx ? I guess they wanted institutional holders only to take over. The announcement said that it would benefit the SP in the long run as it would free up shares selling on market, but I don't see how that will happen if it sold to institutionals who if they flip from $1.50 at the next profit opportunity to sell big volumes, that will only drag the SP down further. I don't really get why FDV was sold at such a discount by Catcha and where this benefit is the FDV announcement mentions, its just PR trying to be optimistic and calm down criticism. Was there insider knowledge/trading?
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