HGH - Heartland Group Holdings

[belted galloway]

"Shares of Heatland New Zealand are in a trading halt as Quadrant Private Equity looks to double its stake in the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies."

"The Australian private equity firm, via brokerage First NZ Capital, has put in a block order to buy 9 percent of the Christchurch-based lender, which will double its holding to 17.75 percent, Heartland said in a statement to the stock exchange. The move comes a month after Quadrant first took an 8.75 percent stake in the bank, buying 41.1 million shares at $1.27 a piece, or $52.2 million, substantial shareholder notices show."

http://www.scoop.co.nz/stories/BU150...bles-stake.htm

[ScrappyO]

"Shares of Heatland New Zealand are in a trading halt as Quadrant Private Equity looks to double its stake in the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies."

"The Australian private equity firm, via brokerage First NZ Capital, has put in a block order to buy 9 percent of the Christchurch-based lender, which will double its holding to 17.75 percent, Heartland said in a statement to the stock exchange. The move comes a month after Quadrant first took an 8.75 percent stake in the bank, buying 41.1 million shares at $1.27 a piece, or $52.2 million, substantial shareholder notices show."

http://www.scoop.co.nz/stories/BU150...bles-stake.htm

Nice find...

[Harvey Specter]

Nice find...

Not so sure. I think the article misinterpreted and got it back to front. The official release is :

proposing to undertake a block trade in respect of the approximately 9% of Heartland ordinary shares held by funds managed by Quadrant.

I interpret the held by funds to be that they are sell shares they hold. Also refer Noodles post above.

Re shareprice, depends who it goes to. If it is being offered to the likes of Noodles, expect some will be looking to short term trade it so it depends on what the discount is. Once the overhand washes through the market, the price should return to its normal trajectory. The likes of ACC would have been hold back knowing a placement was in the cards.

[Cool Bear]

"Shares of Heatland New Zealand are in a trading halt as Quadrant Private Equity looks to double its stake in the bank formed from the merger of Marac Finance with Southern Cross and Canterbury building societies."

"The Australian private equity firm, via brokerage First NZ Capital, has put in a block order to buy 9 percent of the Christchurch-based lender, which will double its holding to 17.75 percent, Heartland said in a statement to the stock exchange. The move comes a month after Quadrant first took an 8.75 percent stake in the bank, buying 41.1 million shares at $1.27 a piece, or $52.2 million, substantial shareholder notices show."

http://www.scoop.co.nz/stories/BU150...bles-stake.htm

Now, that is the other way round to what we all expected - the announcement does say a "

that Quadrant is

proposing to undertake a block trade

", it did not say buy or sell. And we all assume it is Sell

Oops!, the rest of the sentence :in respect of the approximately 9% of Heartland ordinary shares held by funds managed by Quadrant"
does indicated SELL

[Master98]

"NZX Regulation (“NZXR”) advises that, further to its previous announcement and the announcement released by HNZ this morning, the trading halt placed on Heartland New Zealand Limited ordinary shares (“HNZ”) will remain in place pending an announcement of the completion of a sale of shares by Quadrant Private Equity Pty Limited."

[biker]

"NZX Regulation (“NZXR”) advises that, further to its previous announcement and the announcement released by HNZ this morning, the trading halt placed on Heartland New Zealand Limited ordinary shares (“HNZ”) will remain in place pending an announcement of the completion of a sale of shares by Quadrant Private Equity Pty Limited."

Doesn't get much clearer than that.
Hope nobody gets and acts on the business 'news' from scoop.

[psychic]

Doesn't get much clearer than that

lol, what a cluster f. The NBR also report Quadrant as buying now.. Hilarious

[ziggy415]

Doesn't get much clearer than that

so quadrant buys and sells in a month and makes .......nothing...doesnt make sense to me

[stoploss]

Noodles said his broker called asking if he wanted any shares , so must be selling ? Noodles did you hear anything else ??

[Harvey Specter]

lol, what a cluster f. The NBR also report Quadrant as buying now.. Hilarious

NBR article is the same syndicated article. No actual reporting or fact checking by them unfortunately.