do strongly feel that this has something to do with the big fall in share price since the end of last year as I couldn't understand the big fall considering there was such little volume and that the prospects for the company seem very good. Now that such a large overhang has been cleared the price could rerate substantially.
Would make more sense as am institutional trade because of the price. Someone selling off over the last few months would have gotten more than that. Though a book run might work like that i am not sure. Though i do like the sell idea over the last few months. Good thing is price didn't drop.
Panda, imho Credit Suisse sold a while ago and Riverbend has picked them up as they have pledged shares for the Shoats Creek deal. So a worked deal yes but more importantly they are now in strong hands.
Would say it was a sell that because of the size was delayed from quite some time ago. A market maker may have been working the order for quite some time and it explains the share price weakness this year.
Now the overhang is cleared, and especially as the compay is expected to release positive newsflow, the price could move back up to a fairer level.
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