15th Jul 2024 21:03
Trustpilot Group PLC - Copenhagen-based consumer reviews platform - Trafalgar Acquisition Sarl, owned by funds managed by Vitruvian Partners LLP, plans to sell 12.5 million Trustpilot shares through a placing to institutional investors, transaction bookrunner Joh Berenberg, Gossler & Co KG says in a filing. Price per share will be determined through an accelerated bookbuild process, though at current prices, the shares are worth around GBP29.4 million in total.
"The ordinary shares in the company held by the seller following completion of the Placing will be subject to a 45 calendar day lock-up," the filing adds.
Vitruvian Partners sold GBP31.0 million in Trustpilot shares in March. It sold 15.5 million Trustpilot shares, a 3.7% stake, at 200p each. Following that sale, it held 22.0 million shares, a 5.3% stake.
Current stock price: 235.31p
12-month change: up sharply from 76.90p
By Eric Cunha, Alliance News news editor
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