Macquarie's Minara selldown 'well oversubscribed'

MINARA Resources shares have taken an expected plunge after recommencing trading this morning, shedding 24c to a low of $2.93 after Macquarie Bank sold the 165.5 million shares it bought from MatlinPatterson to its clients for $2.90 each.

Macquarie's Minara selldown 'well oversubscribed' Macquarie's Minara selldown 'well oversubscribed' Macquarie's Minara selldown 'well oversubscribed' Macquarie's Minara selldown 'well oversubscribed' Macquarie's Minara selldown 'well oversubscribed'

Macquarie said the selldown of Matlin’s 35.9% stake was well oversubscribed, with the shares sold to a number of its domestic and offshore clients.

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