Reuters: Global Markets: Whitehaven shares jump as Tinkler cuts stake

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Whitehaven shares jump as Tinkler cuts stake Jun 19th 2013, 00:25 SYDNEY | Tue Jun 18, 2013 8:25pm EDT SYDNEY (Reuters) - Shares in Australia's Whitehaven Coal Ltd (WHC.AX) rose as much as 9 percent on Wednesday after the company's top shareholder, embattled tycoon Nathan Tinkler, offloaded about half his stake to cut his debts. U.S. fund Farallon Capital Management picked up a 9.9 percent stake in Whitehaven from Tinkler and entities associated with him, raising its stake to 16.6 percent. The stock jumped to a one-month high of A$2.31 and last traded up 8 percent at A$2.27.

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