24th Jul 2018 09:08
LONDON (Alliance News) - Superdry PLC shares tumbled to the bottom of the FTSE 250 index after co-founder Julian Dunkerton sold 5.5 million shares.
Shares in the fashion retailer were trading down 6.4% at 1,278.30 pence each, making it the third worst performer of the index.
Dunkerton sold the shares - representing a 6.7% stake in the company - via an accelerated bookbuild priced at 1,285p per share, raising GBP71 million.
Following the sale to institutional investors, Dunkerton holds 15.1 million shares in the company or a 18.5% stake.
UBS Ltd acted as sole global coordinator and Investec Bank PLC acted as co-bookrunner in the placing.
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