Macquarie and Morgans' equities desks are in the market with up to 30 million shares in listed law firm IPH Ltd.
The brokers contacted funds on Monday morning, seeking bids from $5 a share.
The shares were to be sold via bookbuild. The brokers were calling for bids in 5¢ increments from the $5 a share floor price, up to $5.20 a share.
The floor price represented a 1 per cent discount to the last close.
The auction represented 15.7 per cent of IPH shares on issue.
The brokers were calling for bids by 2pm on Monday, according to terms sent to potential buyers on Monday morning.
The stock was being sold on behalf of a group of lawyers from Spruson & Ferguson, who brought IPH to market two years ago.
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Ann: Trading Halt, page-14
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Last
$5.06 |
Change
0.090(1.81%) |
Mkt cap ! $1.578B | |||
| Open | High | Low | Value | Volume |
| $5.02 | $5.09 | $5.01 | $3.732M | 737.8K |
Buyers (Bids)
| No. | Vol. | Price($) |
|---|---|---|
| 1 | 3296 | $5.05 |
Sellers (Offers)
| Price($) | Vol. | No. |
|---|---|---|
| $5.06 | 3392 | 3 |
View Market Depth
| Last trade - 16.10pm 28/11/2024 (20 minute delay) ? |
| IPH (ASX) Chart |
