Goldman Sachs stormed home with a late $130 million block trade in Australian Clinical Labs on Friday night.
The broker underwrote a block of 28.9 million shares worth 14.3 per cent of the company after market.It sold the stock to funds at $4,50 a share, according to terms sent to investors. The sale was at a 7.8 per cent discount to the closing price.
Goldman Sachs was offering the stock on behalf of Crescent Capital Partners and its co-investors, who floated Australian Clinical Labs last year.Advertisement “The primary purpose of the sell-down is to enhance liquidity and ACL’s eligibility for inclusion in the S“Crescent remains supportive and has a high level of conviction around the ongoing performance and value of ACL. Crescent is committed to maintaining its representative on ACL’s board of directors.”
The term sheet also said Crescent had “no intentions” to sell any more shares prior to the group’s results for the period ended December 2022.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.
Australia Latest News, Australia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
New Melbourne CSIRO lab boosts nation’s vaccine capabilityThe CSIRO has opened a new facility in Clayton to make vaccines quickly for clinical trials, which the organisation hopes will fill a missing link in Australia’s pandemic preparedness. | liammannix
Read more »
'Those who understand will see the great benefit': Urgent call for unclaimed frozen IVF eggs to go to life-saving clinical trialsMedical researchers are pushing for unclaimed IVF eggs to be donated for clinical research, rather than thrown away.
Read more »
The Block head landscaper scores his own TV show - realestate.com.auThe Block head landscaper Dave Franklin’s backyards have become so popular he’s won a spin-off show of his own, joined by Josh Pakeham of Fans vs Faves, kicking off this weekend.
Read more »
China’s Grand Decade drops $73m Telix stake, JPM seeks buyersJPMorgan’s equities desk is seeking buyers about a 3 per cent stake in ASX-listed Telix Pharmaceuticals on Thursday evening.
Read more »
Gaza: how airstrikes gave Yahir Lapid a bounce ahead of Israeli pollsOperation Breaking Dawn pays off for caretaker prime minister as Hamas stays out of the conflict
Read more »
Why Beijing is banning imports of Taiwanese corn chips, but not their microchipsChina has blacklisted more than 2,000 Taiwan-made products in the wake of Nancy Pelosi's visit, but the self-ruled island's most important export — microchips — is not one of them.
Read more »