Saw this one coming a mile away! As the SP crept upwards towards the $45 mark I was just waiting for this bombshell to drop.
Question now is what price it will go through at... $3.5B worth of WPL shares in the sell-down at the current SP, so Shell may need to accept a discount to get them all away.
Then another $3.5B bought back by WPL - that buy-back should act to increase the SP due to the cancellation of those shares, so there may be two conflicting pressures on the WPL SP.
Interesting times ahead. Could be good buying if the instos buying Shell's stake dump on market at open, and then the price rebounds due to the effect of the cancellation.
On the downside, goodbye Special Dividend I guess.
Ann: Trading Halt, page-2
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Last
$26.83 |
Change
-0.700(2.54%) |
Mkt cap ! $50.94B | |||
| Open | High | Low | Value | Volume |
| $27.02 | $27.06 | $26.60 | $216.9M | 8.084M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 41750 | $26.82 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $26.83 | 8883 | 1 |
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| Last trade - 16.10pm 04/09/2024 (20 minute delay) ? |
| WDS (ASX) Chart |