Hargreaves Lansdown slides after share placing
Hargreaves Lansdown was under pressure on Thursday after around 6.05m shares in the investment platform were placed at 1,550p.
Financial Services
17,957.14
17:14 07/01/25
1.25%
221.68
FTSE 100
8,251.03
17:14 07/01/25
n/a
n/a
FTSE 350
4,528.79
17:14 07/01/25
n/a
n/a
FTSE All-Share
4,484.17
16:44 07/01/25
n/a
n/a
Hargreaves Lansdown
1,100.50p
17:15 07/01/25
0.27%
3.00p
According to traders, Guernsey-based company PHL Limited, which is controlled by co-founder Stephen Lansdown, sold around £100m worth of shares in the company overnight.
Barclays was said to have acted as the sole bookrunner in connection with the placing.
The placing price represents a discount of around 6% to the closing share price on Wednesday.
At 1050 BST, the shares were down 5.7% at 1,554.50p.