JC Flowers sells 10% stake in OneSavings Bank
Shares in OneSavings Bank fell on Tuesday after private investment firm JC Flowers & Co. sold around 24.3m shares in the challenger bank, equating to a 10% stake.
Financial Services
15,999.21
17:14 04/10/24
-1.16%
-187.06
FTSE 250
20,900.08
17:14 04/10/24
n/a
n/a
FTSE 350
4,570.17
17:14 04/10/24
n/a
n/a
FTSE All-Share
4,527.24
16:54 04/10/24
n/a
n/a
OSB Group
392.20p
16:40 04/10/24
2.19%
8.40p
The shares were sold at 395p each, raising gross proceeds of about £96m.
Citi and Credit Suisse acted as joint global coordinators and bookrunners on the placing.
At 0930 BST, the shares were down 5.4% to 399.20p.