Sandfire Resources (ASX:SFR) has revealed that POSCO Australia has sold its 15.2% stake in Sandfire via an institutional block trade completed this morning at an average price of $5.43 per share.
The stake is worth circa $129 million.
POSCO acquired a cornerstone stake in Sandfire in 2008 as part of a strategic alliance between the companies which also included certain product off-take rights and board representation.
At the end of 2008, Sandfire was still trading at below $0.10.
In 2009 the stock skyrocketed after the DeGrussa discovery, peaking in 2012 at over $9.
With the sale of its stake, POSCO’s commercial rights will now lapse under the terms of those agreements.
News: Sandfire Resources reveals POSCO sells cornerstone stake
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Last
$10.34 |
Change
-0.100(0.96%) |
Mkt cap ! $4.190B | |||
| Open | High | Low | Value | Volume |
| $10.42 | $10.52 | $10.34 | $3.653M | 350.9K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 4 | 976 | $10.34 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $10.35 | 8141 | 27 |
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| Last trade - 12.39pm 04/12/2024 (20 minute delay) ? |
| SFR (ASX) Chart |
