MARKETS SPECTATOR: Stockland stocks sale

UBS sold $400 million worth of Stockland shares yesterday, and the property developer plans to make another $100 million available to individual investors.

Individual investors will be able to buy as much as $100 million of Stockland stock at $3.88. At 1328 AEST the property company’s shares were trading down 14 cents, or 3.5 per cent, at $3.84. A Stockland spokesman told Markets Spectator the company has not decided when the share sale to individual investors will commence and end.

UBS sold $400 million of Stockland stock in two and-a-half hours yesterday at $3.88 a share, a 2.5 per cent discount to the stock’s closing price May 21 of $3.98.

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