23rd Sep 2019 16:59
(Alliance News) - Hoxton Assets Ltd and Camsward Pte Ltd intend to sell around 3.8 million shares in Gamma Communications PLC, Citigroup Global Markets Ltd said on Monday.
The placing shares represent around a 4.0% stake in Gamma and, assuming these shares are all sold, Hoxton and Camsward will retain an aggregate 16.5% stake.
The shares are being offered to institutional investors by way of an accelerated bookbuild, which will be launched immediately. Citi is acting as sole global coordinator and bookrunner.
The placing price will be agreed by Citi and the sellers at the close of the bookbuild process. Gamma will not receive any proceeds from the transaction.
Shares in Gamma closed up 0.4% at 1,145.00 pence in London on Monday.
By Lucy Heming; [email protected]
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