I am trying to understand what is going on with Mac Bank It...

I am trying to understand what is going on with Mac Bank
It seems pretty obvious that it is the MBL selling which is causing the SP to be hammered.
They are not just selling - they are Dumping their shares.
I have seen Yanks do this - but not Aussie Instos.

So Why are they dumping - when MBL is famous for making a profit?

What I want to understand is just which part of MBL is selling.



this is from A/R
the A/R shows Macqaurie Group Limited 55,872,974

one can see from above Top 20 that the MBL investment is held within various entities.
most of those holdings are in MBL Funds.

Bond Street Custodians Ltd 17,202,818 2.44%
Macquarie Bank Limited 14,166,667 2.01%

Bond Street Custodians Limited 6,573,149 0.93%​

Bond Street Custodians Limited 6,261,107 0.89%

totals about 44.3m or 6.27% there.
Sub S/h Notices show Bond Custodians holds 33.3m shares on behalf of MBL, but top 20 shows only 30.1m approx. - ergo Bond St must hold other smaller parcels for MBL which are outside the Top20?

So MBL held shares pre R/I and from original deal - prior to R/I MBL via Macquarie Bank Limited had 10m shares only.

So MBL underwrote R/I -

​

	Column 1
0	JointLead Managers, Joint Underwriters and Joint Bookrunners: Macquarie Capital (Australia) Limited (Macquarie Capital) and MorgansCorporate Limited (Morgans)

I suppose that Mac Capital could have Sub-Underwritten R/I to these other MBL Funds??
From Sub S/h N of 22 Aug it looks like the MIML took about 17m shares under R/I.
It is those shares that are held under Bond St Custodians.

I am guessing that the original investment MBL Metals Mining AG will remain at 14shown m above.

But I think it is MIML via these other Funds which MIML manage, that are dumping the shares on market at the moment.
I reckon these MIML Funds were Sub-Underwriters, and got stuck with the shares.
Unfortunately there are still 33m shares left in MIML.
so selling pressure will probably continue.

Happy to be corrected, and hear other views.

cheers