Shaw and Partners launch Gentrack block trade
A chunk of Gentrack Group shares was on offer on Tuesday, after Shaw and Partners launched a $61 million block trade in the dual-listed software maker.
Shaws was sole lead manager on the transaction, with the block of 10.2 million shares representing 10 per cent of the company. The deal was priced at $5.97 apiece, a 5 per cent discount to the last close and a far cry from the $2.50 share price this time last year.
Shaw and Partners was selling shares in tearaway software maker Gentrack on Tuesday after-market. AFR
Fund manager sources noted Gentrack has just gone into the S&P/NZX 50 Index, the main stock market index in New Zealand, and inclusion in the ASX-300 index is expected in coming months. Allocations were made on Wednesday before the market opened.
The trade rounds off a busy end to 2023 for Shaw and Partners which raised funds for Chrysos, Bowen Coking Coal, Peninsula Energy and Acrow Formwork last month.
The stockbroking and wealth management firm also made key hires from Morgan Stanley and Macquarie in wealth management and from Credit Suisse, Rio Tinto and RBC Capital Markets in research and corporate finance.
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out more