The size of Teva is irrelevant - it's the size of MSB that counts, and Teva's stake is over 15% of the entire company! You're talking about a parcel of stock that is equivalent to about 2 months of normal trading volume!
It is simply not possible to sell that kind of stake on market without the SP collapsing. Plus, as soon as Teva sold any shares, it would have to be disclosed within a couple of days (as Teva is a substantial holder), so unless the entire stake could be offloaded within a day or so, it would quickly become public knowledge that Teva was bailing out. The only realistic way a buyer could be found for Teva's stock is via a placement or off market transfer, and that can't be arranged in total secrecy (it would require brokers making a lot of calls to offer the stock). In fact, that might be exactly why the suspension is required (among other possibilities).
SMH Perspective, page-55
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Last
$1.06 |
Change
0.030(2.91%) |
Mkt cap ! $1.210B | |||
| Open | High | Low | Value | Volume |
| $1.05 | $1.09 | $1.03 | $5.796M | 5.430M |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 2 | 15990 | $1.06 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $1.08 | 48632 | 3 |
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| Last trade - 16.10pm 02/09/2024 (20 minute delay) ? |
| MSB (ASX) Chart |