GB Group slides after Audax Management sells 5m shares in placing
GB Group
344.00p
16:35 23/12/24
-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
3,442.83
16:44 23/12/24
n/a
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FTSE AIM 50
3,871.96
16:44 23/12/24
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FTSE AIM All-Share
712.44
16:50 23/12/24
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Software & Computer Services
2,625.25
17:09 23/12/24
-0.25%
-6.61
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.