It happens. It is typical in almost all cases; Smorgon, Goodman F, Myer, Coles, et al. Once a 'family business' floats there is very little intention to keep any holding. The sell down is always very gradual. Typically over a 10-15 year period. They sell down because the family want to go their separate ways, and often because the next generation doesn't have the particular business expertise. They just end up putting the money into property projects.
TSE Price at posting:
$1.68 Sentiment: Buy Disclosure: Held
