Hastings slumps as Goldman Sachs places 22m shares

Hastings was under the cosh on Friday after Goldman Sachs placed 22 million shares in the insurer.

Bloomberg reported that the shares were placed at 177p each, which represents a 6.4% discount to the closing price on Thursday.

According to terms seen by Bloomberg, Hastings holder Goldman Sachs Merchant Banking Division offered the shares via Goldman Sachs.

At 1230 BST, Hastings shares were down 6.2% at 177.40p.