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Shaw and Partners was pleased to act as Sole Lead Manager to a block trade in Gentrack Ltd (Global) shares on Tuesday afternoon.
Approximately 10.3 million shares (~10% of shares on issue) were offered at $5.97 per share, representing a 5.2% discount to the last close of $6.30.
The block trade ensured the full exit of the vendor from Gentrack’s register and has allowed various domestic and foreign institutional investors the ability to build on current holdings or establish new meaningful positions.
The trade comes after Gentrack’s inclusion into the S&P/NZX 50 Index and is expected to be included in the ASX300 index in the coming months.
Gentrack has been one of the best performing software stocks on the ASX in 2023, up over 150% YTD.
Shaw and Partners congratulates Gary Miles and the whole Gentrack team on a fantastic 2023 as they look to build on this heading into 2024
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