UBS’ equities desk was in the market on Friday evening seeking buyers for shares in listed enterprise software company Technology One.

UBS’ equities desk was in the market on Friday evening seeking buyers for shares in listed enterprise software company Technology One.
TechnologyOne executive chairman Adrian Di Marco was one of two sellers in the market on Friday night.  Photo: Glenn Hunt
The broker was hunting for buyers for 7 million shares or 2.2 per cent of the company’s shares on issue through two block trades.
The deal was priced at $9.20 a share, which represented a 7.2 per cent discount to the company’s $9.91 last close, according to terms sent to funds.
Selling down was JL Mactaggart Holdings run by Technology One director John Mactaggart and Masterbah Pty Ltd which belongs to Technology One’s executive chairman Adrian Di Marco.
JL Mactaggart was offloading 4 million shares while Masterbah was selling 3 million.
Books were pegged to close at 6.30pm on Friday.
News of the selldown comes about six months after the pair last sold Technolgy One shares in November 2019, in a deal also handled by UBS.