ComfortDelgro

ComfortDelgro: Counter declined 10.5% to $1.95 today. Perhaps resulting from the sale of long-term shareholder Singapore Labour Foundation, selling $262m worth at close yesterday. The discount on the block trade was between 6.9% ($2.03) - 11% ($1.94) on yesterday’s close of $2.18, which attracted over 50 investors. The seller offered to dispose of 170m shares, accounting 2/3 of its holdings and 8.1% of the company. Deal was comfortably covered and attracted a good balance of long-only accts and hedge funds. The deal was fully covered by investors based in Asia, but complemented with orders from US.