25th Mar 2015 08:22
LONDON (Alliance News) - Citigroup Global Markets Ltd on Wednesday said Moneysupermarket.com Group PLC founder Simon Nixon has decided against proceeding with a planned share sale which would have raised him around GBP100 million.
Citigroup did not provide any reason for the move.
Nixon had been set to sell a 6.4% stake in the company via an accelerated bookbuild handled by the investment bank. At Moneysupermarket's closing price of 286.00 pence on Tuesday, the issue of 35 million shares in the company would have raised him GBP100.1 million.
Shares in Moneysupermarket were down 7.7% to 264.00 pence Wednesday morning, the worst-performing stock in the FTSE 250 index.
By Sam Unsted; [email protected]; @SamUAtAlliance
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