Market violence to make blocks painful for forced sellers

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By Sam Kerr
17 Mar 2020

The crash in share prices as the coronavirus pandemic has gathered pace is soon likely going to force some sellers to execute equity block trades to cover loans secured against stock, or just to access capital quickly. But these sellers are going to have to stomach heavy discounts to get the liquidity required to execute trades, as one company proved on Monday night.

The three major US indices closed around 12% down on Monday, their worst single day of trading in three decades. The moves were emblematic of the carnage in global equity markets.

Despite this, Goldman Sachs was in the market with a 2m share block in Vifor Pharma, the ...

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