9th Sep 2015 07:20
LONDON (Alliance News) - Wilbur Ross on Tuesday launched a share sale in Virgin Money Holdings (UK) PLC, Reuters reported, citing a bookrunner.
WL Ross & Co was said to be selling up to 45 million shares in Virgin Money via accelerated bookbuild, according to the report on Tuesday.
The shares that were to be sold equate to about 10.2% of Virgin, according to that report.
Goldman Sachs was said to be running the accelerated bookbuild.
WL Ross's representative on the Virgin Money board, James Lockhart, is to stand down on completion of the sale, the report said.
According to a Wednesday note by Ian Gordon, an analyst at Investec, 50 million shares were placed at 405 pence each, with Ross cutting his stake to 12% from 23%.
http://uk.reuters.com/article/2015/09/08/idUKL5N11E3OT20150908
http://www.reuters.com/article/2015/09/08/idUSFWN11E07420150908
Virgin Money shares were down 4.1% at 406 pence on Wednesday morning in London, the worst performers in the FTSE 250.
By Samuel Agini; [email protected]; @samuelagini
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Related Shares:
Virgin Money Holdings