Baltic Classifieds slumps as Antler sells 40m shares in placing
Baltic Classifieds Group
318.50p
17:15 06/11/24
0.63%
2.00p
Baltic Classifieds slumped on Monday after Antler, which is controlled by funds advised by Apax, sold 40m shares in a placing.
FTSE 250
20,446.70
17:04 06/11/24
n/a
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FTSE 350
4,502.41
17:04 06/11/24
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FTSE All-Share
4,460.03
17:14 06/11/24
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Software & Computer Services
2,428.17
17:04 06/11/24
0.87%
20.96
The placing shares, which represent an interest of about 8.2%, were sold at 231p each, raising gross proceeds of approximately £92.4m.
The placing was upsized by around 11% from an original 36m shares "on the back of strong deal momentum".
Following settlement of the placing, which is expected to take place on Wednesday, Antler will continue to hold about 12.9% of BCG's ordinary shares.
BofA Securities acted as sole global coordinator in connection with the placing.
At 0850 BST, the shares were down 2.7% at 249.50p.