27th Jan 2020 18:00
(Alliance News) - Peel Hunt LLP said on Monday that IntegraFin Executive Director Michael Howard intends to sell 8.5 million shares in IntegraFin Holdings PLC.
The sale of the shares, which represents around 2.6% of the issued share capital of IntegraFin, will be undertaken via an accelerated bookbuild to institutional investors.
"The proceeds will enable Howard to complete the funding for a charitable foundation and, residually, for diversification purposes," Peel Hunt said.
Barclays Bank PLC and Peel Hunt are acting as joint global coordinators and bookrunners.
Following completion of the sale, Howard will own around an 8.9% stake.
IntegraFin shares closed 3.1% lower at 478.00 pence each on Monday in London.
By Ife Taiwo; [email protected]
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