20th Mar 2024 11:33
Trustpilot Group PLC - Copenhagen-based consumer reviews platform - Trafalgar Acquisition Sarl, an investment vehicle owned by funds managed by Vitruvian Partners LLP, sells GBP31.0 million in Trustpilot shares in a placing run by the investment bank, Berenberg. Virtruvian sells 15.5 million Trustpilot shares, a 3.7% stake, at a price of 200 pence each. The placing via an accelerated bookbuild was announced after the London market close on Tuesday. It was increased from an original plan to sell 12.5 million shares, with Berenberg on Wednesday citing "strong investor demand". Vitruvian was one of the original backers when Trustpilot came to the market back in 2021. It will continue to hold 22.0 million shares, a 5.3% stake. Trustpilot will receive no proceeds, as the sale was of existing shares.
Current stock price: 188.60p, down 9.3% in London on Wednesday
12-month change: doubled from 92.75p
By Tom Waite, Alliance News editor
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