1st Dec 2015 16:47
LONDON (Alliance News) - Moneysupermarket.com Group PLC Tuesday said its founder Simon Nixon plans to place up to 35.0 million of his shares up for sale.
The company said Nixon intends to sell between 30.0 million and 35.0 million shares, which represents a stake in Moneysupermarket.com ranging between 5.5% and 6.4%.
Once the placing is completed, Nixon will be subject to a lock-up in respect of his remaining shares in the company until Moneysupermarket.com releases its preliminary results for the year ended December 31, which is expected to be published in March 2016.
As of March 3, Moneysupermarket.com said Nixon held a total of 89.8 million shares in the company, representing just under a 16.5% stake in the company - suggesting he is selling off around a third of his total shareholding.
Credit Suisse is the sole bookrunner for the placing, which has opened up with immediate effect.
Moneysupermarket.com shares closed up 0.7% to 328.30 pence per share on Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
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