Indivior slumps as Scopia Capital sells 20m shares

Indivior was under the cosh on Wednesday after US alternative asset management firm Scopia Capital sold 20m shares in the opioid addiction treatment maker in a placing.

The shares were placed at 250p each and the placing represents around 2.8% of the issued share capital.

Following completion, Scopia Capital will hold just over 96.8m shares in Indivior, which is a 13.5% stake. Scopia will retain its seat on the board "and remains a committed long-term shareholder".

Indivior will remain Scopia’s top holding after completion.

Jefferies acted as sole global coordinator and bookrunner on the placing.

At 0805 GMT, the shares were down 4.4% at 251.40p.