Trustpilot slumps after Northzone sells stake

Berenberg said on Tuesday that it sold just over 5.17m shares in Trustpilot on behalf of shareholder Northzone in a placing.

The shares, which represent 1.23% of the issued share capital, were sold at 157p each. Following completion of the placing, Northzone will not have anymore shares in the review website.

The placing was conducted through an accelerated bookbuild, with Berenberg the sole bookrunner.

Trustpilot will not receive any proceeds from the placing.

At 0810 GMT, the shares were down 3.2% at 160p.