17th May 2023 08:58
(Alliance News) - Strategic investors in London Stock Exchange Group PLC sold GBP2.7 billion worth of shares in a placing and retail offer at a slight discount to LSEG's close on Tuesday, the lead bookrunner said early Wednesday.
The share sale, first announced after the London market close on Tuesday, was led by Barclays Bank, Citigroup Global Markets, JP Morgan Cazenove, and Merrill Lynch International as joint global coordinators and bookrunners.
The shares were sold at 8,050 pence each, a 5.1% discount to their close on Tuesday of 8,482.00p. LSEG shares were down 4.5% to 8,094.00p early Wednesday.
A total of 33.0 million shares were sold, just under a 6% stake and increased from an originally planned 28.0 million. LSEG will receive no proceeds, as the sale was of existing shares.
They had been owned by a consortium that included funds affiliated with private equity investor Blackstone Inc. Other sellers included Thomson Reuters - the former owner of LSEG's Refinitiv business - and Canada Pension Plan Investment Board.
Blackstone and Thomson Reuters had sold 28.0 million LSEG shares back in March for GBP2.0 billion. The pair have 5.1 million shares remaining, which are subject to a 90-day lock-up period.
By Tom Waite, Alliance News editor
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