UBS Nominees ceasing to be a substantial shareholder. Notice out this morning.
So THAT'S who has been selling it down!
IMD still an outstanding company, so UBS must have been just juggling their portfolios, or raising cash. UBS themselves got bailed out by the Swiss Govt a couple of weeks ago, so they're probably still in a bit of poo, and probably need to liquidate a whole pile of assets.
Let's see if the price starts to rise again now that they're out - or almost out. Once their holdings drop below 5%, the notice has to be released. But they could still have more shares to sell before they're completely out, so this may go on for a few days yet, I guess.
IMD remains in my long-term portfolio, with a timescale of the next 3-5 years minimum.
IMD Price at posting:
45.0¢ Sentiment: Buy Disclosure: Held
A personalised tool to help users track selected stocks. Delivering real-time notifications on price updates, announcements, and performance stats on each to help make informed investment decisions.
(20min delay)