2nd Oct 2019 13:31
(Alliance News) - Aston Martin Lagonda Global Holdings PLC on Wednesday said Primewagon Jersey Ltd sold GBP9.6 million worth of shares in the company.
Shares in Valkyrie hypercar maker were down 4.9% at 484.40 pence in London on Wednesday afternoon. The stock has fallen 75% since listing a year ago with an initial public offering price of 1,900 pence.
Primewagon Jersey is an investment vehicle connected to Non-Executive Director Najeeb Al Humaidhi and sold the 961,550 shares at GBP10.00 each on Tuesday. Aston Martin said the shares were sold as part of a partial tender offer.
In mid-July, Strategic European Investment Group Sarl announced its intention to buy 6.8 million Aston Martin shares at GBP10.00 each, with the offer closing September 26.
Aston Martin separately released a holdings statement, which disclosed that Primewagon Jersey's stake in Aston Martin had fallen to 10.7% from 11.1% on Monday.
By Anna Farley; [email protected]
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