Qld Govt hold 34.89% of stock being approx 851 Million shares worth around $3.1B.
Let's hope they sell in an orderly manner , with some reputable broker(s) and don't flood the market. There are several insto's with 5-7% each so we just need to find some more like that.
I assume the broker(s) will underwrite the sale so if the market is not able to digest they will push hard overseas.
In that case I see two positives. Firstly , if the AUD is perceived to be going below parity, we could get some interest ex USA. Secondly, Lance Hockridge did a lot of road shows in the USA before the float , and he has an even better story to tell now to keep the buying interest up.
I have bought in on the current dip and I feel that sp pressure from Gov't selling will be relatively small and temporary.
Main issue is the achievement of the 15.8c EPS forecast ( notwithstanding the recent announcement).
Good luck to all holders
Full-tilt
QRN Price at posting:
$3.67 Sentiment: Hold Disclosure: Held
