Antler sells entire stake in Baltic Classifieds

Baltic Classifieds said on Monday after Antler, which is controlled by funds advised by Apax, has sold off its remaining 13% stake in the company in a placing.

Antler sold around 63 million shares at 247p each, raising gross proceeds of approximately £156m.

The sale comprised around 59m ordinary shares sold by Antler to institutional investors, which raised about £146m and 4.2m ordinary shares sold by Antler to the company, raising gross proceeds of about £10m.

The placing was upsized by around 100% from the original size of 30m shares, as announced on 12 July.

BofA Securities acted as sole global coordinator in connection with the placing.