Virgin Volume Surges on Blocks Totalling 125 Million SharesAdam Haigh
Trading volume in Virgin Australia Holdings Ltd., the nation’s second-largest carrier, surged as 125 million shares changed hands in three separate block trades.
Trades of 36 million shares crossed at 11:55 a.m. in Sydney, of 77.44 million at 12:04 p.m. and of 11.2 million at 1:24 p.m., according to data compiled by Bloomberg. All three block trades were priced at 47.5 Australian cents and were carried out on Chi-X Australia Pty.
Danielle Keighery, a spokeswoman for Virgin Australia, said the airline doesn’t comment on trading activity.
The stock dropped 1.1 percent to 46 cents at the close in Sydney. Total trading volume was 154 million shares, more than 1,260 percent of its three-month average, according to data compiled by Bloomberg. The combined block trades equal 4.8 percent of outstanding shares in the company, according to the data.