TDM sells $80 million of GYG shares in block trade
Make us a preferred source
Make us a preferred source on Google
The news: TDM Growth Partners has offloaded $80 million worth of Guzman y Gomez shares, new corporate filings show, representing its first sale of the stock on the public market.
The numbers: The Sydney fund manager sold 2,451,221 shares at an average price of $32.90 as part of a block trade underwritten by Morgan Stanley.
Filings show TDM also transferred 1,581,304 shares to a client who wished to manage them directly themselves. They were worth around $52 million at the time of the transfer.
After the transactions, TDM Growth Partners retains control of 24.16 million ordinary shares, or $775 million worth at Thursday's trading price. It holds 23.2% of voting rights.
Separate filings show GYG co-CEO Hilton Brett pocketed a little over $1 million after disposing of 30,778 shares. He still owns around 250,000 shares, or $8.3 million worth, held under the control of TDM – for which Brett worked previously as an adviser.
The context: The insider sales rank as some of the first after the escrow lifted on 25% of their shareholdings. The remainder will be available for sale following GYG's full-year results in the second half of 2025, should the company continue trading above key levels.
Making up a significant portion of its $2 billion+ portfolio, TDM has been under pressure to manage its GYG shareholding without spooking other investors.
The sources: ASX - Block Trade, ASX – TDM, ASX – Hilton Brett
