Aware Super has ceased to be a substantial shareholder in Tabcorp, finalising its exit on July 24. This move follows a period of significant gains in Tabcorp’s share price earlier this year. Tabcorp is a gambling entertainment company that manages lotteries, wagering, and media businesses. Aware Super’s decision comes amid strict ownership caps that prevent any single investor from holding more than 10 per cent of Tabcorp without receiving ministerial approval.
Documents lodged with the Australian market operator show that Aware Super divested approximately $4.3 million worth of Tabcorp shares throughout July, concluding on July 24. The sale marks the end of Aware Super’s substantial investment in the betting and wagering group.
Tabcorp shares last traded at 76 cents. This represents a 32 per cent increase since July 1, reflecting positive market sentiment prior to Aware Super’s exit. The super fund’s divestment comes after a period of strong growth for Tabcorp, potentially allowing Aware Super to realise significant returns on its investment before ceasing to be a shareholder.
