5th Dec 2019 10:22
(Alliance News) - boohoo Group PLC on Thursday said Mahmud Kamani and Carol Kane have jointly sold 50.0 million shares, representing a 4.3% stake, through an accelerated bookbuild to institutional investors.
The stock was trading 5.7% lower in London on Thursday at 280.32 pence a share.
Kamani and Kane are co-founders of boohoo, with Kamani also serving as executive chair, while Kane is an executive director.
The placing was conducted by Zeus Capital Ltd and Jefferies International Ltd. boohoo said it will not receive any proceeds from the placing.
Kamani sold 35.0 million shares at a price of 285 pence each, worth GBP99.8 million. Meanwhile, Kane disposed of 15.0 million shares at the same price, totalling GBP42.8 million.
Following the placing, Kamani holds a 13% stake in boohoo, while Kane has a 2.7% interest.
By Evelina Grecenko; [email protected]
Copyright 2019 Alliance News Limited. All Rights Reserved.
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