ASX Fortescue: Monster $1.1 billion block trade in Andrew Forrest’s mining company underway

Street Talk can reveal fund managers were being offered the shares at $21.60 apiece, representing a 6 per cent discount to Fortescue’s last traded price.

The parcel represented 1.6 per cent of the company, and was a cleanup trade on behalf of a big fund manager, sources said. It was run as a fixed-priced trade.as China’s stimulus to revive construction has failed to boost steel demand. Meanwhile, the conga line of executives filtering out of its top ranks has continued.

Earlier this month, Julie Shuttleworth, a trusted Forrest lieutenant for a decade and one-time deputy chief executive officer, resigned. Last year’s departures included long-serving chief financial officer and former Reserve Bank of Australia deputy governor Guy Debelle, who lasted just five months as CFO of the green energy division and severed his final links to Fortescue last September.

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