SYDNEY (Reuters) - Australia's corporate regulator said the local arm of Goldman Sachs has agreed to review how it sells shares to investors, after it failed to notify the market about dwindling interest in a block trade it conducted for Healthscope in 2015.
The Australian Securities and Investments Commission (ASIC) said Goldman Sachs Australia had failed to tell investors that interest for the A$853 million ($628.66 million) block trade in shares of the health operator had waned.
"Investors need to have confidence that they are being provided with accurate information in the course of a bookbuild or underwriting process," ASIC Commissioner Cathie Armour said in a statement on Monday.
($1 = 1.3569 Australian dollars)
(Reporting by Byron Kaye and Paulina Duran; Editing by Himani Sarkar)
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app