28th Apr 2020 18:20
(Alliance News) - Fund managers LDC Managers Ltd will sell 80% of their stake in video game developer Team17 Group PLC through an accelerated bookbuild, bookrunners Berenberg said on Tuesday.
Roughly 6.9 million shares in Team17 will placed, though a price per share was not stated.
Team17 shares closed 3.5% higher at 625.00 pence each in London on Tuesday. Based on this price, the placing will raise GBP43.1 million.
Following the bookbuild, the sellers will hold 1.7 million Team17 shares, a 1.3% stake.
By Eric Cunha; [email protected]
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