Moony, I would hope that any transfer, if it were to occur would happen at a premium to the current sp. In my unqualified opinion I see ANZ possible options at the moment to be:
a. hang on to their shares for the long term to realise some growth in BUL b. hang on to their shares until BUL get some reserve runs on the board so they have more negotiating power on the value of their holdings c. negotiate a sale price on their holdings to a single or multiple buyers d. on market sale
If they went for option c or d because of a near term aim to raise some capital, the effect would be the same or similar I think. I am reckoning this because if ANZ have only a single or no buyers for their slice, then the buyer would have the power to negotiate; ANZs other option if they were unhappy with the BUY price would be to dump them to market achieving a similar outcome. If there are competing buyers then ANZ could negotiate a higher price for their BUL holding with competing bids, or alternatively put the shares to market and let the competing buyers and market decide what price the shares get sold at. In my opinion the share price is really at the mercy of ANZ and their schedule (if any?) to part with their shares.
I am hoping that there is more than one buyer out there at the moment :) SF
BUL Price at posting:
0.0¢ Sentiment: Hold Disclosure: Held
