DS Smith falls as Merpas sells shares in placing

DS Smith fell on Friday after Merpas sold shares in the packaging company in an accelerated bookbuild.

According to traders, a total of 26.1m shares were sold, or 2% of the company’s issued capital, with 21m sold by Merpas and the rest placed by UBS as a hedge. The shares were understood to have been placed at 390p each.

UBS acted as sole bookrunner.

At 0915 GMT, DS Smith shares were down 3.3% at 392.10p.