14th Nov 2025 10:11
(Alliance News) - BNP Paribas London on Friday confirmed that investors in Bridgepoint Group PLC have sold shares representing 3% of the private equity firm's capital.
Based on Bridgepoint's closing price of 292 pence on Thursday in London, the shares sold are worth about GBP70 million.
BNP Paribas acted as sole bookrunner for the placing, while Burgundy C Nominees Ltd acted on behalf of 48 current or former Bridgepoint employees and related people.
London-based Bridgepoint saw its stock fall 4.4% to 280.00p per share on Friday morning.
Burgundy C first announced the placing to institutional investors on Thursday. It was for 24 million shares at 275 pence each.
This follows "the expiry of certain lock-up arrangements" described in an initial public offering prospectus which Bridgepoint had published on July 21, 2021.
Although Bridgepoint was not party to the placing, nor will it receive any proceeds from it, it had agreed to grant waivers from the lock-up to approximately 18.5 million shares. This enabled more selling shareholders to take part in the placing.
The waivers depend on the placing's completion, after which 167 million shares will remain subject to the IPO lock-up, expiring on July 26, 2026.
Any leftover shares which remain in Burgundy C's ownership "for the benefit of the selling shareholders" will be under a 90-day lock-up. This is expected to apply to roughly 78 million shares.
By Holly Munks, Alliance News reporter
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