16th Dec 2016 06:57
LONDON (Alliance News) - Investment bank Numis Securities Ltd late Thursday said two shareholders in online beach-holiday provider On The Beach Group PLC are to sell 12.5 million shares in the company via an accelerated bookbuild.
Inflexion and Hawksford Trustees Jersey Ltd, which represents members of the management team, will sell the shares in a placing managed by Numis.
The shares being sold represent a 9.6% stake in On The Beach. The final number of shares and pricing of those shares will be agreed when the bookbuild is finished.
On The Beach shares closed up 3.0% at 276.00 pence on Thursday. At that price, the share sale would raise GBP34.5 million.
By Sam Unsted; [email protected]; @SamUAtAlliance
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