Mitie slumps as Alchemy sells 40m shares in placing
Mitie Group
109.40p
15:29 08/11/24
-8.22%
-9.80p
Mitie shares slumped on Wednesday after investment fund Alchemy sold 40m shares in the outsourcing and energy services company in a placing.
FTSE 250
20,554.54
15:30 08/11/24
n/a
n/a
FTSE 350
4,461.78
15:30 08/11/24
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FTSE All-Share
4,420.21
15:30 08/11/24
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Support Services
11,221.25
15:29 08/11/24
-0.52%
-59.11
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.