Goldman Sachs’ equities desk was seeking buyers for 13 million Webjet shares on Wednesday night.

Goldman Sachs’ equities desk was seeking buyers for 13 million Webjet shares on Wednesday night.
There’s a parcel of Webjet shares in front of fund managers on Wednesday night.   Paul Jones
The broker asked funds to bid $3.37 to $3.45 a share for the stock which was a 5.6 per cent to 3.4 per cent discount to the last close, according to the termsheet.
The shares were offered on behalf of Webjet’s convertible bond investors and would help them establish initial hedge positions in shares, the term sheet said.
“Ultimate price of and number of shares offered is subject to the size and composition of the CB book, and elections by CB investors as to whether and how many shares to vend into this delta placement,” potential buyers were told.
“It is expected that a portion f the placement will be taken up by parties to certain call option transactions (including the sole lead manager and/or affiliates) that will cover a number of ordinary shares underlying the Webjet CB.”