Shaw and Partners and Ord Minnett have successfully executed the sale of a parcel of Midway Limited (ASX.MWY) shares on behalf of a group of selling shareholders.

Approximately 5.8 million ordinary shares were traded at the price of $3.60 per share, being a ~$21 million transaction.

The price represented a 0.8% discount to last close of $3.63 and a 6.4% discount to 30-day adjusted VWAP of $3.85.

In September 2018, Shaw and Partners was appointed as Joint-Lead Manager of the $50.0 million Midway Limited placement and sell-down.

About Midway Limited

Established in 1980, Midway Limited is a leading Australian forestry company primarily involved management of plantation forests, and production and export of high quality woodfibre to producers of pulp, paper and associated products in the Asian region. Midway has grown to become Australia’s largest processor and exporter of woodfibre and has majority shareholdings in South West Fibre Pty Ltd based in the Green Triangle, and Queensland Commodity Exports based in Brisbane.