24th Sep 2019 08:36
(Alliance News) - Two Gamma Communications PLC shareholders have sold stock worth 5.8% of the company, Citigroup Global Markets Ltd said on Tuesday.
Citigroup acted as the sole bookrunner and global coordinator for the share sale.
Hoxton Assets Ltd and Camsward Pte Ltd sold a combined 5.5 million Gamma shares at a price of 1,050 pence each, netting them a total of GBP57.8 million, with the stock down 4.8% early Tuesday in London at 1,090p.
They now hold just shy of 15% of Gamma's shares between them. Gamma did not receive any proceeds from the sale, as they were existing shares, Citigroup said.
The sale of 5.5 million shares is more than the two had planned. On Monday afternoon, Citigroup had said the two would sell 3.8 million shares, around a 4.0% stake, at a then yet-to-be-determined price.
By George Collard; [email protected]
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