NZ shares fall as Ebos shareholder sells down; covid jitters remain

The S&P/NZX 50 Index fell 25.88 points, or 0.2 percent, to 11,132.58. Within the index, 33 stocks fell, 12 rose, and five were unchanged. Turnover was $800.5 million, of which Ebos accounted for $629.2 million.

Ebos fell 3.2 percent to $21.63 after its biggest shareholder sold 9.2 percent of the company for $323 million in a block trade.

Zuellig Group subsidiary Sybos sold 15 million Ebos shares in an underwritten block trade managed by Citigroup at $21.52 a share. Today almost 30 million shares changed hands, suggesting investors were taking advantage of the discounted share sale.

The size of the block trade meant some investors would also have needed to sell out of other companies to participate.