They are doing it because it helps them achieve the daily VWAP without selling large chunks. It also helps when a fund is trimming their portfolio due to inflows outflows. Any sale impacts the market but it does not mean they are deliberately manipulating. I have heard others call a 800,000 share parcel sitting on the offer manipulating.....seems people don't want others to sell tiny or large parcels!
Ann: Prospectus for Non-Renounceable Pro-Rata Rights Issue, page-67
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