AustralianSuper has reduced its substantial holding in SkyCity Entertainment Group to 6.95 percent after selling more than 15 million shares in the New Zealand casino operator over a two-week period.
According to a substantial product holder disclosure filed with the New Zealand Stock Exchange, the Australian pension fund now holds 76.6 million SkyCity ordinary shares, down from 91.7 million shares previously. Its stake fell from 8.32 percent to 6.95 percent.
The transactions were carried out between June 22nd and July 2nd through JPMorgan Nominees Australia Ltd, with all disclosed movements listed as share sales. The largest single sale took place on July 2nd, involving about 4.28 million shares.
The latest disclosure was triggered by a movement of more than 1 percent in AustralianSuper’s substantial holding. The filing did not provide a reason for the reduction, nor did it identify the buyers of the shares.
AustralianSuper remains a substantial shareholder in SkyCity following the sale. The group is one of the region’s major institutional investors and had previously disclosed its SkyCity position on June 23rd.
SkyCity operates casino and entertainment properties in New Zealand and Australia. The company has faced heightened regulatory scrutiny in recent years, including enforcement action linked to its Adelaide operations.
