GB Group slides after Audax Management sells 5m shares in placing
GB Group
344.60p
10:40 05/11/24
0.35%
1.20p
Identity and fraud software specialist GB Group slid on Thursday after Audax Management sold 5m shares in the company in a placing.
FTSE AIM 100
3,556.29
11:20 05/11/24
n/a
n/a
FTSE AIM 50
4,022.51
11:20 05/11/24
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FTSE AIM All-Share
735.73
11:20 05/11/24
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Software & Computer Services
2,413.12
11:19 05/11/24
0.27%
6.57
According to Bloomberg, AG Acuant Holdings - an entity affiliated with Audax Management - sold the shares to institutional investors at 400p each, raising gross proceeds of around £20m.
The placing price represents a 9.7% discount to the closing share price on Wednesday.
At 0830 BST, GB Group shares were down 7.4% at 410.20p.