EVN 0.42% $4.71 evolution mining limited

Bloody La Mancha again....!JPMorgan and Citi were seeking to...

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    Bloody La Mancha again....!

    JPMorgan and Citi were seeking to offload 50 million shares in Evolution Mining on Wednesday night.

    As first reported by Street Talk, the brokers were calling for bids into a bookbuild after market on Wednesday.

    The deal was underwritten at the $3.74 floor price, which was a 6 per cent discount to the closing price, and the brokers sent a book message soon after saying the deal was "covered at $3.74 a share".

    The stock was being sold for La Mancha, which owned 162 million shares or a 9.6 per cent stake, as part of a swap agreement with the two investment banks.

    The deal was worth $189 million at the floor price and represented a 3 per cent stake in Evolution Mining, according to terms sent to potential buyers.

    The brokers were calling for bids by 7.30pm Wednesday.

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