Australia's Ventia Services slumps to 1-year low after top shareholders sell stake

Ventia Services

08/03/2023 24:59

** Shares of infrastructure services provider Ventia
Services Group  VNT.AX  fall as much as 6.5% to A$2.170, their
lowest since Feb 23, 2022
    ** Co says top two shareholders CIMIC Group and Apollo
Global Management have each sold 93 mln shares in VNT via an
underwritten block trade  urn:newsml:reuters.com:*:nL4N35G04T
    ** Stake sale is valued at about A$431.6 mln ($284.29 mln),
based on stock's last closing price
    ** Adds CIMIC and Apollo would each hold about 21.9% stake
in VNT after stake sale
    ** More than 200.3 mln shares change hands, 56.4 times the
30-day average of 3.6 mln shares
    ** As of last close, stock down 3.7% this year

 (Reporting by Himanshi Akhand in Bengaluru)
 ((Himanshi.Akhand@thomsonreuters.com;))