UPDATE: Teleios sells EUR46 million in Glenveagh shares, retains 11%
Glenveagh PLC - Kildare, Ireland-based housebuilder - Teleios Capital Partners LLC sells a EUR46 million stake in the housebuilder, cutting its holding to just under 11%. Teleios is a Zug, Switzerland-based specialist investment manager and activist hedge fund. It sells 20.6 million Glenveagh shares at EUR2.23 each, worth EUR46.0 million in total. The shares represent a 4.1% stake in Glenveagh, and following the sale, Teleios continues to own 10.6%. Glenveagh itself buys back EUR20 million of the shares on offer, 9.0 million shares, just under half, as part of its share buyback programme. Jefferies International Ltd, the sole global coordinator and sole bookrunner, had announced the share sale after the London market close on Monday. Read More