Mitie slumps as Alchemy sells 40m shares in placing
Mitie Group
110.80p
12:40 24/12/24
1.65%
1.80p
Mitie shares slumped on Wednesday after investment fund Alchemy sold 40m shares in the outsourcing and energy services company in a placing.
FTSE 250
20,571.51
13:00 24/12/24
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FTSE 350
4,491.87
12:54 24/12/24
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FTSE All-Share
4,449.61
13:14 24/12/24
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Support Services
10,551.01
12:54 24/12/24
0.34%
35.43
The shares were sold by way of any accelerated bookbuild to institutional investors at 112p each, raising gross proceeds of about £44.8m.
Following completion of the placing, Alchemy will hold just over 31m shares in Mitie, which is a stake of around 2.33%.
Peel Hunt acted as sole global co-ordinator and bookrunner in connection with the placing.
At 0850 BST, the shares were down 4.2% at 115p.