12th Apr 2016 15:56
LONDON (Alliance News) - Two major shareholders of Hostelworld Group PLC will sell their entire stakes in the company through an accelerated bookbuild, Numis Securities said Tuesday.
H&F Wings Lux 1 SARL and the Duffy family will put 23.5 million shares in the company up for sale through the placing, equal to a total 24.6% stake in the company - representing both parties' entire stake in Hostelworld.
The Duffy family is comprised of Kingsley, Louise, Bryan and Christina Duffy.
The accelerated bookbuild will be managed by Numis Securities Ltd, which will act as the sole coordinator and bookrunner.
Hostelworld shares closed down 0.7% to 277.50 pence per share on Tuesday.
Based on that closing share price, the 23.5 million shares will fetch around GBP65.2 million. Hostelworld's current market capitalisation is GBP263.2 million.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2016 Alliance News Limited. All Rights Reserved.
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