Centro jumped 15 cents, or 12 percent, to A$1.35, after gaining 50 percent yesterday. The company said yesterday it may sell assets to raise cash after losing 86 percent of its market value in the first two days of this week.
John Snowden, head of property securities at Colonial First State in Sydney, Centro's largest shareholder at 13 percent according to Bloomberg data, also said yesterday he will take advantage of the share declines to build Colonial's stake, adding Centro is likely to get good prices for its U.S. assets.
i have 250,000 reasons to smile
Over $2 in a matter of days/weeks
cheers
CNP Price at posting:
0.0¢ Sentiment: Buy Disclosure: Held
