EBOS shares sink after $881m block sale
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More news: Medical product wholesaler and distributor EBOS has seen its share price sink after it confirmed major shareholder Sybos will sell NZ$949 million ($881 million) worth of shares, or about 13.2% of issued capital.
The numbers: EBOS’s share price was 4.2% lower at $34.51 at 12:28pm AEST, slightly recovering after an initial fall to $33.90 at market open.
EBOS confirms $881m block trade by largest shareholder Sybos
The news: Medical product wholesaler and distributor EBOS has confirmed that its major shareholder Sybos will sell NZD949 million ($881 million) worth of shares in the company, representing around 13.2% of its issued capital.
The numbers: Zuellig Group subsidiary Sybos, which has not sold any of its shares in EBOS since 2020, will retain a 4.9% shareholding.
The 26.74 million shares will be sold at NZD35.50 each, an 8.9% discount to the stock's closing price on Wednesday.
The context: Sybos said its decision to reduce its ownership in EBOS supports "diversification of assets and redeployment of capital to other growth opportunities".
