Moonpig tumbles after discounted share placing

Moonpig tumbled on Thursday after a number of shareholders placed around 25m shares in the company at 160p each, which is a discount of just under 10% to the closing price a day earlier.

According to Bloomberg, the placing represented about 7.3% of Moonpig’s issued share capital.

Shares were placed by Exponent Private Equity LLP, LCP VIII Holdings, Strategic Partners VII Investments, LGT Capital Partners, GoldPointPartners, K Athena Investments No 40 Limited, Storebrand International Private Equity and Aberdeen Standard Investments prices.

The placing was conducted by Citi and Jefferies.

At 0950 BST, the shares were down 9.8% at 160.21p.