MONDE drops after "cornerstone investor" dumps shares overnightWe don’t have any information about who the seller is, and why the seller elected to sell, nor can we know for certain whether the 8% drop was entirely due to the feelings generated by the below-market overnight sale. The exact details of the sale are not yet known, but what we know is that an “unaffiliated institutional investor” sold over 271 million shares at P18.80/share, for a total transaction value of P1.4 billion. The number of shares involved in the sale represents around 1.5% of Monde Nissin's [MONDE 18.62 8.05%] outstanding shares. The overnight sale was a private placement, meaning that the sale was negotiated directly between the buyer(s) and the seller without going through the open market (PSE). Merkado Barkada's opinions are provided for informational purposes only, and should not be considered a recommendation to buy or sell any particular stock.

Source: Philippine Star September 29, 2021 00:33 UTC