Macquarie Bank selldown?
Based upon their track frecord of milking every cent out of their investments and using 'creative' accounting when selling down, they can keep the stock imo.
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...if you are well connected (like Joshuatree) you’ll get offered some at $1.20
This really is a case of somebody with heaps of shares selling out and using a broker or two to sell them in an orderly way. Institutions / Fund Managers will probably take most.
If they don’t all sell the Underwriter has guaranteed to buy those left over.
So it’s really a matter of anybody having any rights or whatever you were alluding to.
89 million in Craigs hands temporarily. Thats a lot of shares to hold even if you've raised your target price ;+)
No vested interest in doing that is there :D http://nzx-prod-s7fsd7f98s.s3-websit...676/315877.pdf Even for those that are naïve enough to accept this new theoretical target at $1.26 at face value as a 12 month price target, its hardly a compelling proposition for $1.20 on the table now is it ! Pretty sure a lot of that stock will find its way into various brokers "full client discretionary" managed funds, not just because there's a fat brokerage and underwriting fee... of course not lol
I couldn't agree more. Further, they will be well aware of how sales at the various villages have gone in just over 8 weeks of the key selling period of summer since the half year report date of 30 November 2019 but are "rather conveniently" keeping that information to themselves. This dog is definitely not getting on the other side of a transaction and swimming with that big shark, once bitten twice shy and I'm staying well clear !
A ‘target price’ of $1.26 implies who set that target only values it $1.12/$1.15 today
If Maccas last share dump gives any guidance, then don't worry about not getting an offer now - you might get in a couple of weeks the opportunity to buy the shares cheaper on market than the "well connected" people buy them now :);
From memory - SP dropped after the last dump roughly 10% below the offer price, i.e. there might be some bargains floating around at $1.10 come next month or so ...
Discl: holding (though I did some "portfolio management" around 130). Might buy some more back if & when above happens ..