12th Jun 2019 09:50
(Alliance News) - Amigo Holdings PLC's majority shareholder is still considering selling some of its holding in the company, it said Wednesday, after opting not to in the immediate future.
Richmond Group Ltd, which owns 61% of FTSE 250 guarantor loans lender Amigo, said it has been investigating selling "part" of the holding.
"Richmond has opted not to proceed with this sale at this time, but continues to actively consider selling some shares in Amigo. Richmond envisages remaining a significant shareholder in Amigo for the long term, but Richmond's intention to diversify its portfolio remains," Richmond said.
With a market capitalisation of approximately GBP1.33 billion for Amigo, Richmond's stake is worth approximately GBP816.6 million. Amigo shares were down 4.1% Wednesday morning at 280.00 pence each.
Last October, Amigo's founder & former director James Benamor left the board after Richmond decided it no longer wanted to be represented on the Amigo board.
Amigo joined the London Stock Exchange last June, with selling shareholders netting GBP326.8 million in the float.
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