Megaport sell down 3.3 million shares

Company News

by Rachael Jones

Interconnection services company Megaport (ASX:MP1) today announced the sell down of 3,300,000 shares in the Company held by Megaport Chairman, Mr Bevan Slattery.

The sale of 3,300,000 shares, that's equivalent to 2.46 per cent of the Company’s issued capital, was underwritten by UBS AG, Australia Branch at a price of $5.11 and distributed to institutional investors.

Following the sell down, Mr Slattery will continue to hold 13.52 per cent of the Company’s issued capital.

Mr Slattery will be using the proceeds from the sale to fund early stage development of two new technology ventures.

Shares in Megaport (ASX:MP1)
 

Are you a 708 sophisticated investor?

A sophisticated investor is defined under Section 708 of the Corporations Act (net assets of $2.5 million or annual incomes in excess of $250,000).

They are eligible to receive information regarding wholesale investment opportunities that are not available to regular or retail investors.

Please subscribe if you would like to be alerted to these types of opportunities.