19th May 2021 19:17
(Alliance News) - An Apax Global Alpha Ltd plans to sell 20.7 million shares in the private equity and derived investments-focused firm, Jefferies International Ltd said on Wednesday.
Lexington Partners plans to sell the shares through an accelerated bookbuild. Jefferies will act as sole global coordinator.
At current market prices, the stake is worth GBP41.4 million. Apax Global shares closed down 1.1% at 199.80 pence each in London on Wednesday.
"The price per placing share will be determined through an accelerated bookbuild process," Jefferies said.
"The selling shareholder will be locked up in respect of its residual holding for 90 days, subject to customary exceptions including waiver by Jefferies."
By Eric Cunha; [email protected]
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