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Member
SPN - South Port
I was interested to see a total of 1,434,776 SPN shares trade yesterday (representing around 5.4% of total shares on issue).
After a squiz through the Annual Report I am guessing that the seller was Tasman Pacific Insurance Ltd. Alternatively, perhaps the Southland Regional Council has been encouraged to reduce their holding in an effort to improve liquidity. I am mighty curious as to who the buyer(s) were though - obviously someone feels there is value in SPN at $1-25.
I confess to being party to one of the 5 trades yesterday (on the buy side). I thought that there should have been some price weakness after they went ex-div earlier in the week, hence the presence of my cheeky $1-15 bid. After seeing the volume trades go through yesterday I didn't want to miss the boat on this one, so I bit the bullet and increased my bid by 10cps. There is a first for everything!
Roll on next week and the SSH notice(s).
Regards JAMP
NZX: MCH MFT RBD SAN SKX SPN VTX WRI
Unlisted: BRK
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