Integrafin slumps as founder Michael Howard sells 3.5m shares
IntegraFin Holding
353.00p
12:40 24/12/24
1.58%
5.50p
IntegraFin shares slumped on Tuesday after founder Michael Howard sold a 1.1% stake in the Transact owner.
Financial Services
17,588.17
12:54 24/12/24
0.77%
133.83
FTSE 250
20,571.51
13:00 24/12/24
n/a
n/a
FTSE 350
4,491.87
12:54 24/12/24
n/a
n/a
FTSE All-Share
4,449.61
13:14 24/12/24
n/a
n/a
Howard sold just over 3.5m shares at 563p each via an accelerated bookbuild to institutional investors.
"The sale was instructed, primarily, to enable Michael Howard to further fund a charitable foundation and also for diversification purposes," Integrafin said.
Barclays acted as global coordinator and bookrunner for the offering.
At 0925 BST, the shares were down 3.6% at 568.50p.