FILE PHOTO: A sign is displayed in the reception of the Sydney offices of Goldman Sachs in Australia, May 18, 2016. REUTERS/David Gray/File Photo
July 2, 2018
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 <HSO.AX> 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.
(Reporting by Byron Kaye and Paulina Duran; Editing by Himani Sarkar)
