In afternoon trade the S&P/ASX 200 (Index: ^AXJO) (ASX: XJO) is on course to have a bitterly disappointing start to the week. At the time of writing the benchmark index is down 0.8% to 6,159.2 points.
Four shares that have fallen more than most today are listed below. Here's why they have started the week in the red:
The Helloworld Travel Ltd (ASX: HLO) share price has fallen 2% to $5.91 after the travel company revealed the sell down of shares by executive directors and Qantas Airways Limited (ASX: QAN). CEO Andrew Burnes and Cinzia Burnes have each sold 2,500,000 shares at $5.50 per share and Qantas Airways has sold 2,000,000 shares at the same price. The sell down was undertaken after the company received many enquiries from domestic and international investors seeking liquidity opportunities. Mr Burnes hopes the improved liquidity will help the company gain inclusion on the ASX300 list in future.
The Nufarm Limited (ASX: NUF) share price has plunged 9.5% to $6.07 after announcing the completion of the institutional component of its fully underwritten 3 for 19 pro rata accelerated renounceable entitlement offer. The institutional component successfully raised approximately A$238 million.
The Silver Chef Limited (ASX: SIV) share price has dropped 5.5% to $1.96 following the release of the equipment financier's full year results. According to the release, Silver Chef reported a statutory net loss after tax of $48.8 million in FY 2018. The company also revealed that its lenders have granted it another waiver for breaching its financial covenants. The waiver has been extended until March 31, conditional on a successful minimum capital raising of $45 million.
The TPG Telecom Ltd (ASX: TPM) share price is down 3% to $8.29 despite there being no news out of the telco company. But with its shares rocketing higher over the last couple of months, I wouldn't be surprised if profit taking is weighing on them today. Especially given how some brokers have declared its shares as vastly overvalued.
