(Adds details on stake sale, CEO quotes and share movement from paragraph 2-6)
April 30 (Reuters) - Worley (WOR) said on Tuesday its top shareholder, Dubai-based engineering and consulting firm Sidara, had sold about 19% stake in a block trade, sending the Australian engineering firm's shares more than 11% lower.
As per Reuters' calculation, the stake sale is worth A$1.63 billion ($1.07 billion) based on Worley stock's last closing level of A$16.310.
"We appreciate the support of continuing shareholders who have invested more in our future and welcome the new shareholders who will join our register following Sidara's block trade," Worley CEO Chris Ashton said in an exchange filing.
Worley's exchange filing did not provide any further details on the stake sale.
Sidara, formerly known as Dar Group, did not immediately respond to a Reuters request for details on the block trade.
Worley shares fell as much as 11.3% to A$14.460, marking their worst day since February 2021. More than 53 million shares had traded as at 0041 GMT, more than 60 times the monthly average volume.
($1 = 1.5244 Australian dollars) (([email protected]; Twitter: https://twitter.com/sameer_manekar;))
News: WOR UPDATE 1-Aussie engineering firm Worley's top shareholder sells 19% stake, shares plunge
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Last
$13.68 |
Change
0.420(3.17%) |
Mkt cap ! $7.059B | |||
| Open | High | Low | Value | Volume |
| $13.34 | $13.71 | $13.31 | $58.01M | 4.260M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 1900 | $13.65 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $13.69 | 45000 | 1 |
View Market Depth
| Last trade - 16.10pm 29/07/2025 (20 minute delay) ? |
| WOR (ASX) Chart |