Aurizon shareholder raises A$347m in block

An undisclosed shareholder offloaded its entire stake less than two weeks after the Australian rail freight operator posted strong earnings.
Aurizon is one of Australia's largest rail freight operators
Aurizon is one of Australia's largest rail freight operators

A$347 million $273.4 million was raised from an accelerated block trade in Aurizon Holdings late on Wednesday after an undisclosed shareholder sold its entire stake in the Australian rail freight operator.

The shareholder offloaded 71 million secondary shares -- or 3.3% of Aurizon's enlarged share capital -- at A$4.90 per unit, representing a 1.8% discount to Tuesday's closing price, according to a term sheet seen by FinanceAsia.

The shares were initially marketed at a range of A$4.89 to A$4.92 per unit, a source close to the deal said. 

The clean-up trade met with strong support at launch, with...

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