FMG 5.31% $19.27 fortescue ltd

There was a large block trade priced at $18.55. Large holder...

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    There was a large block trade priced at $18.55. Large holder wanting out on about 100m shares. JPMorgan fully underwrote the block and attempted to sell it on to other investors via a bookbuild... which priced at the bottom of the range, so we don't know if all of the shares were taken up by JPM institutional investor clients or they (and/or sub-underwriters) were left holding some extra stock. It isn't all that unusual for a stock to trade down to the block trade price, but anyway, that's the big driver today.
 
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