11th Nov 2020 11:45
(Alliance News) - Peel Hunt LLP on Wednesday said it operated as bookrunner for the sale of shares in Impax Asset Management PLC via a placing by shareholder BNP Paribas Asset Management Holding SA.
BNP Paribas Asset Management is a subsidiary of the French bank, and has sold 13.7 million shares at a price of 510 pence per share, totalling GBP68.4 million. The shares hold represents 11% of Impax's issued share capital, while the price reflects a 10% discount from Tuesday's closing price of 568.00p.
Shares in the sustainability-focused investor were down 5.3% at 539.10 pence on Wednesday in London.
Following the transaction, BNP AM will hold 18.3 million shares in Impax, reflecting a 14% interest. Impax is not a party to the placing, and will not receive any proceeds as a result.
By Dayo Laniyan; [email protected]
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