KiwiSaver fund's $33.5m share sale ahead of MRP float

ANZ's KiwiSaver fund OnePath (NZ) has sold more than 5.1 million shares in Ryman Healthcare ahead of this week's Mighty River Power float.

In a substantial shareholders' notice to the NZX, disclosed last week, OnePath says between December 24 and April 29 it sold about 6.55 million Ryman shares for $33.5 million and bought 1.41 million shares for $6.7 million – a gain of $26.8 million.

The net gain would have been far higher because OnePath would have paid far less than the current price for the shares.

 

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