Australia's Ingenia Communities falls as top shareholder exits

Sun Communities

13/10/2023 04:35

** Shares of Australia's Ingenia Communities Group  INA.AX 
fall as much as 6.21% to A$3.93, its worst intra-day pct drop
since Feb. 21
    ** Property developer among top five losers on the ASX 200
benchmark index  .AXJO 
    ** INA at its lowest level since Aug. 25
    ** U.S.-based REIT Sun Communities Inc  SUI.N , INA's top
shareholder, on Thursday announced sale of its entire 10.25%
stake in Ingenia for $100 million
    ** Nearly 45 million shares change hands, versus 30-day
average trading volume of 972,723 shares
    ** Stock down 6.3% this year, as of last close

 (Reporting by Aaditya Govind Rao in Bengaluru)