8th Mar 2021 14:08
Zotefoams PLC - Croydon-based maker of foam products for industries including sports, construction, marine, automation, medical equipment and aerospace - Peel Hunt LLP and Investec Bank PLC launch secondary placing of 3.8 million Zotefoams shares. Notes Sekisui Alveo AG, which currently owns a 7.8% stake in Zotefoams, has appointed the duo to sell these shares to institutional investors by way of an accelerated bookbuilding process, which will determine the price per placing share and the final number of placing shares sold.
"In the context of the placing, any of the ordinary shares in Zotefoams held by Sekisui which are not sold in the placing will be subject to a 90-day lock-up undertaking, subject to certain customary exceptions," says Zotefoams.
Current stock price: 404.76 pence, down 5.2% on Monday
Year-to-date change: up 6.5%
By Zoe Wickens; [email protected]
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