Goldman Sachs is believed to be assessing interest in a fresh block trade in MYOB Holdings on behalf of Bain Capital.
As revealed by Street Talk on Thursday, the bank was looking at executing an early release from escrow for Bain after locking up any future sell-downs. Investor sources said Goldman had been speaking to them about the potential trade this week.
Bain last sold 100 million shares, or a 17 per cent stake, in MYOB at $3.55 apiece in February.
The private equity investor agreed to a 90-day escrow period over its remaining 44.3 per cent stake in the accounting software group as part of the trade.
The 90-day period is due to expire in late May. The escrow is between Goldman, as the underwriter of the block trade, and Bain.
And as rival Citi showed with an audacious block in Australand back in 2014, it's possible for an underwriter to grant the other party an early release.
Such a move could allow Goldman to selldown another chunk of Bain's stake without the stake being shopped to other banks.
It's a deal that could work for both sides of the trade, although would be subject to fund manager's appetite for the stock.
MYOB shares finished Thursday's session at $3.68, well above the last block trade price of $3.55.
Bain is MYOB's largest shareholder, having re-listed the company two years ago.
