Quote Originally Posted by Southern Lad View Post
A fund manager could have any range of reasons for selling such as:

1. Not wanting to be a trapped minority shareholder (noting that CDL Singapore control CDI);
2. They have identified alternative investments that they think have better growth prospects;
3. They have a negative view on the NZ economy, residential property subdivision, the future NZD exchange rate;
4. The CDI balance sheet is too lazy (no debt, cash in bank, and a dividend that is a low proportion of operating cash flow); or
5. Imputation credits of less value to them than NZ shareholders.

I'm not offering an opinion on whether any of the above factors are likely to be of real concern but rather offer them up to illustrate a point.

I also see there is some strife going down at CDL Singapore - see https://www.straitstimes.com/busines...ard-management

Given share trade price over the last few moths, 75 cents to offload a 3% stake in one go is probably what you would expect.

and another!
75 1,576,992 15:35 SP