Vocus sells off 16% stake in Macquarie Telecom

29 Mar 2017

Vocus Group has divested its entire shareholding in Macquarie Telecom Group, the latter has confirmed. According to a press release issued by Macquarie, Vocus has sold its 3,358,511 shares in the former – which represented 16% of the company’s issued share capital – via a block trade at AUD12.20 (USD9.29) per share to ‘a broad range of new institutional and retail shareholders’.

In confirming the development, Macquarie said it welcomed the release of Vocus’ holding, claiming the move would increase the trading liquidity of its shares and improve the diversity of its shareholder register. Meanwhile, Macquarie Telecom chairman Peter James said: ‘We welcome our new shareholders and are confident that they will benefit from our strategic and operational plans that continue to deliver strong growth in Macquarie Telecom’s revenue and profitability.’

Australia, Macquarie Telecom (MacTel), Vocus Group (incl. Commander, Dodo, iPrimus)