In short, Paine & Partners (pre-IPO investor) offloaded about a 5% stake in Costa this morning for $6.55 a share to a bunch of institutional investors. I would have thought that that price represents at least a 5% "blockage" discount - although precisely what the discount is I would have no idea and will defer to more expert views.
If nothing else it would seem to put a pretty solid floor on the share price of $6.55, and would imply a valuation of more than $6.85.
Which coincidentally is around the $6.80 price target given by UBS this morning (up from $5.70).
CGC Price at posting:
$6.57 Sentiment: Buy Disclosure: Held
