Australia's Dicker Data tumbles on discounted stake sale

Dicker Data

06/03/2024 24:18

** Shares of Dicker Data  DDR.AX  fall as much as 12.5% to
A$10.550, their biggest intraday percentage loss since Aug 30,
2021
    ** Stock hits its lowest level since Nov 1, 2023
    ** The technology distributor says Chairman and CEO David
Dicker sold down about 10.2% stake through a block trade at
A$10.90 per share
    ** Sale price represents a 12.6% discount on co's last close
    ** About 19 mln shares change hands, compared with the
30-day average volume of 165,828
    ** Stock up 0.8% YTD, based on last close



 (Reporting by Aaditya Govind Rao in Bengaluru)
 ((Aaditya.govindrao@thomsonreuters.com;))