update: woodside sells hardman stake for a$118.3m, page-6

could fall to $1.50 1536 [Dow Jones] Deutsche Bank has bought Woodside's (WPL.AU) 10.24% stake in
Hardman (HDR.AU) at A$1.76 each and is currently struggling to place stock with
institutional investors, broking sources say. "My understanding is that small
clients that haven't heard from Deutsche in years are getting called and that's
a terrible sign," says trader. "It's had to be aggressive because the price was
below there 2 weeks ago." Says shares might not be covered and Deutsche Bank
will bear the burden. "I think they'll struggle to get it away, significantly."
Expects placement to be completed today with HDR likely to resume trading well
below A$1.76 tomorrow. Says shares could fall to A$1.50. HDR last A$1.91. (DWR)