Capstone Copper's investor launches $454 million block trade, term sheet shows
By Scott Murdoch
SYDNEY, Oct 9 (Reuters) - Hadrian Capital Partners is selling down an A$688 million ($454.1 million) dollar stake in dual-listed Capstone Copper CS.TO on Thursday, according to a term sheet seen by Reuters.
The investor is selling 50 million ASX Chess Depository Interests (CDI) in the company at A$13.75 each, the term sheet said.
The price is a 6.7% discount to Capstone's CSC.AX Australian closing price of A$14.74 on Thursday.
Citigroup and Macquarie Capital are handling the trade, according to the term sheet.
Capstone Copper did not immediately respond to a request for comment from Reuters. Hadrian Capital Partners could not be reached outside U.S business hours.
The share sale represents 6.6% of Capstone Copper's total shares on issue, the term sheet said, and Hadrian Capital Partners will retain a 6.7% stake in the business.
Hadrian Capital Partners does not intend to sell further Capstone Copper shares in the near future, the term sheet said.
($1 = 1.5152 Australian dollars)
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