12th Jan 2022 09:10
(Alliance News) - Swiss Re AG sold shares in FTSE-100 listed Phoenix Group Holdings PLC, Merrill Lynch International said on Wednesday.
The Zurich-based insurance company sold 66.2 million shares, equating to a 6.6% stake, in the London-based peer at a price of 664 pence per ordinary share. Phoenix Group shares were down 0.4% at 682.60 pence each on Wednesday in London.
The placing raised GBP440 million and was conducted through an accelerated bookbuild, Merrill Lynch explained. It served as the sole global coordinator and sole bookrunner in the sale.
Following the placing, which was first announced late Tuesday, Swiss Re has fully exited its holding in Phoenix Group.
Shares in Swiss Re were up 0.6% at CHF95.12 each in Zurich on Wednesday.
By Abby Amoakuh; [email protected]
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Related Shares:
Phoenix Group Holdings