Rear Window
Ananda Krishnan's lucky block trade at Smartgroup
The $370 million Krishnan secured for his 32.6 million shares in October would be worth only $308 million if he held them now.
Myriam RobinRear Window editorMalaysian billionaire Ananda Krishnan is notoriously media shy. So his exit via a Macquarie block trade from strongly-performing ASX-listed salary packaging company Smartgroup last month aroused relatively little notice
But maybe it should have. From Smartgroup's July 2014 listing to last month, Krishnan owned 25 per cent of Smartgroup through Smart Packages, itself a subsidiary of his Usaha Tega. But on October 18, he sold his entire stake for $11.30 a pop, at a 6.6 per cent discount to the prevailing market price.
Subscribe to gift this article
Gift 5 articles to anyone you choose each month when you subscribe.
Subscribe nowAlready a subscriber?
Introducing your Newsfeed
Follow the topics, people and companies that matter to you.
Find out moreRead More
Latest In Financial services
Fetching latest articles