12th Jun 2026 09:00
(Alliance News) - Tirlan Co-Operative Society Ltd on Friday said it sold a 5% stake in Glanbia PLC in a placing to institutional investors and back to the company.
The sale of 12.0 million Glanbia shares at EUR21.47 per share raised EUR257.6 million gross for the co-op. Glanbia was trading at EUR22.80 in London early Friday, up 4.1%.
Goodbody Stockbrokers and Rabobank-Kepler Cheuvreux placed 9.7 million shares with institutions in an accelerated bookbuild announced after the London market close on Thursday. The remaining 2.3 million shares were bought back at the same price by Glanbia.
The Kilkenny, Ireland-based sports nutrition company said the buyback from Tirlan Co-Op, worth EUR50 million, formed part of the EUR100 million share buyback it announced back in February. The remaining EUR50 million buyback continues by means of on-market purchases.
Tirlan remains the largest shareholder in Glanbia with 31.5 million shares, a 13.2% stake. It has agreed to not sell any more Glanbia shares for at least 90 days.
By Tom Waite, Alliance News editor
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