DOW 0.80% $8.80 downer edi limited

this could be good for dow holders

  1. 635 Posts.
    DOW has been in pre-open all day.
    Here is the announcement.
    Could help the liquidity in this stock.
    Now let's see DOW's true value.
    Company Announcement

    Change in substantial holding in Downer EDI Limited

    HOMEX - Sydney
    Downer EDI Limited (Downer EDI) advises that Hutchison Whampoa Limited of Hong Kong has placed in the market 61 million fully paid Downer EDI shares.

    Hutchison Whampoa also advised that it is at an advanced stage of negotiation to dispose of the remaining 39 million shares it holds, at the same price as the institutional placement, to the management
    of Downer EDI, through a special purpose investment vehicle (SPV); failing conclusion of this arrangement those shares will be subject to a lock up agreement for a period of six months.

    As a separate arrangement, Paul Y.-ITC Construction Holdings Limited (Paul Y) has granted the management SPV a performance based option over a period of 12 to 18 months to purchase up to 35 million Downer EDI shares from Paul Y at a strike price of 55 cents per share.

    Downer EDI Managing Director Stephen Gillies said the purchase of shares by management and the securing of the share option facilitated by Paul Y reflects management's firm belief in the outlook for the

    JP Morgan was appointed by Hutchison Whampoa to manage the placement and has advised that the placement was well supported by new and existing institutional investors.

    Contact: John Davenport, General Manager Group Funding & Investor
    Relations, (02) 9251 9899; or John Shuey, Group Corporate Affairs
    Manager, (02) 9251 9899 or 0413 705 491

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Mkt cap ! $5.233B
Open High Low Value Volume
$8.80 $8.92 $8.79 $9.793M 1.108M

Buyers (Bids)

No. Vol. Price($)
6 32731 $8.80

Sellers (Offers)

Price($) Vol. No.
$8.85 39515 6
View Market Depth
Last trade - 16.10pm 17/01/2020 (20 minute delay) ?
0.070 ( 1.24 %)
Open High Low Volume
$8.81 $8.92 $8.79 325496
Last updated 15.59pm 17/01/2020 (live) ?
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