JPMorgan’s equities desk has peeled off one of the biggest during-market-hours trades of the year, crossing a $421 million stake in the ASX200’s fourth largest member CSL.
JPMorgan’s equities desk has peeled off one of the biggest during-market-hours trades of the year, crossing a $421 million stake in the ASX200’s fourth-largest member CSL.The desk handled the line of 1.5 million CSL shares at $281 a pop late in the trading day. The stock closed at $283.55, having started the day at $285.also crossed a $300 million stakeInvestors reckon it was a big offshore institution selling down its position, with the shares picked up by a handful of fund managers.
The fact it was at a discount to the then market price is as good a sign as any that it was a seller-led trade.co-edits Street Talk, specialising in private equity, investment banking, M&A and equity capital markets. He has 10 years' experience as a business journalist and worked at PwC, auditing and advising financial services companies.
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