Digital MP has almost completely sold out from Bevan Slattery’s Megaport, with Citi working to find a buyer for a parcel of stock worth at least $34m after the market closed.
Shares were being offloaded at between $17.55 and $18.09 with bids in 6c increments.
The shares were being sold at a discount of up to 3 per cent to the last traded price of $18.09 per security on July 1.
On offer were 1.95 million shares or 1.25 per cent of the stock on issue.
Megaport was founded by tech entrepreneur Bevan Slattery, who remains the company’s chairman.
Citi sold shares in Megaport for Digital MP earlier this month, offloading a 4.9 per cent interest.
At that time, shares were being sold through a bookbuild with a range of $13.10 to $13.50 in 5c increments.
At the end of that transaction, Digital MP held 2 million shares in Megaport.
The price then was a discount of between 3.6 per cent and 6.4 per cent to the company’s last traded share price of $14.
The offer size was between $99m and $102m.
Megaport offers scalable bandwidth for public and private cloud connections.
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