16th Feb 2021 17:25
(Alliance News) -Â Peter Hargreaves on Tuesday said he intends to sell around GBP300 million of shares in Hargreaves Lansdown PLC via an accelerated bookbuild.
Barclays Bank PLC and Numis Securities Ltd are acting as joint global coordinators and bookrunners for the offering and Evercore Partners International LLP is acting as financial adviser to Peter Hargreaves.
The bookbuild will start immediately and the sale price of the shares and the final size of the offering will be determined after the books have closed. Hargreaves Lansdown will not receive any proceeds from the offering.
Peter Hargreaves founded Hargreaves Lansdown with Stephen Lansdown in 1981.
Shares in fund supermarket Hargreaves Lansdown closed down 1.0% at 1,653.00 pence in London on Tuesday, though the stock has risen 8.4% year-to-date.
By Lucy Heming;Â [email protected]
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