18th May 2015 16:09
LONDON (Alliance News) - MoneySupermarket.com Group PLC founder Simon Nixon intends to sell between 2.8% and 3.7% of the company, according to a statement on Monday, turning to Credit Suisse Securities (Europe) Ltd to find buyers of the shares.
Nixon's latest attempt to shrink his holding in the price comparison website comes almost two months after his previous share sale fell to go ahead. The founder and non-executive deputy chairman had looked to sell a 6.4% stake - equivalent to 35 million shares - in the company but decided against proceeding with the sale, according to a March 25 announcement by the bookrunner on that placing, Citigroup Global Markets Ltd.
Credit Suisse, which is the bookrunner on the latest placing, said that Nixon plans to sell between 15 million and 20 million shares in the company through an accelerated bookbuild.
"The books for the placing will open with immediate effect. The timing of the closing of the books will be at the absolute discretion of Credit Suisse and Simon Nixon," the statement said.
Nixon won't be allowed to sell any further shares for 180 days after the placing. He currently owns 16.57% of the company, its single largest shareholder.
MoneySupermarket shares closed up 0.3% at 302.50 pence on Monday.
By Samuel Agini; [email protected]; @samuelagini
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