6th Mar 2024 09:03
(Alliance News) - The major shareholders of London Stock Exchange Group PLC, including US private equity firm Blackstone Inc and Canadian media outfit Thomas Reuters Corp, sold GBP1.9 billion in LSEG shares, with the UK company buying back GBP500 million of these, the companies said early Wednesday.
The consortium of shareholders, also including the Canada Pension Plan Investment Board, sold 21.5 million shares in LSEG late Tuesday. A total of 15.9 million voting shares were placed with institutional investors by Citigroup Global Markets Ltd and other investment banks at a price of 8,980 pence each, worth GBP1.4 billion in total.
LSEG also bought back 5.6 million voting and limited-voting shares at 8,917p each, worth GBP500 million. It said this was part of the GBP1 billion share buyback that it announced for 2024 with its results on Thursday last week.
LSEG shares were up 2.9% at 9,300.00p early Wednesday in London.
The consortium held a 9.9% economic interest and a 6.8% voting interest in LSEG prior to Tuesday's sale. This was via 33.3 voting shares and 20.6 million limited-voting shares.
By Tom Waite, Alliance News editor
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