Mystery investor sends shares in Dreamworld owner surging
SHARES in Dreamworld owner Ardent Leisure Group surged as much as 17 per cent higher this morning after a buyer snapped up stock in the company at a 20 per cent premium.
Nineteen million shares were sold prior to the market opening at $1.20 per shares, far higher than the $1.005 closing price yesterday.
The shares are worth $22.8 million at the traded price and represent 3.96 per cent of the total number of securities in Ardent.
At 12pm shares were 15.92 per cent higher at $1.165, up 16¢.
The Financial Review Street Talk column reported this morning it understood George Kanaan's institutional blocks desk at UBS handled the trade.
The buyer is unknown at this stage and the stake is below the 5 per cent threshold where a change in substantial holding notice is triggered.