7th Oct 2021 17:50
(Alliance News) - Liberum Capital Ltd late Thursday confirmed Arrowgrass Master Fund Ltd successfully sold 16.2 million shares at 55 pence each, in a deal worth GBP8.9 million.
The stock closed up 4.0% at 59.82 pence each on Thursday.
The shares being sold represent a 19.99% stake in London-based TruFin, which will received no proceeds as the sale is of existing shares.
"The placing, which was oversubscribed, received high levels of support from new and existing blue-chip institutional investors," Liberum said.
TruFin is an AIM-listed financial technology firm that also has a video gaming publishing arm.
Arrowgrass had reduced its holding in TruFin to 19.99% from 73.87% back in February. That sale, also run by Liberum, was the largest block trade in the UK since 2017, according to TruFin, effectively "re-IPOing" the company.
Liberum acts as joint corporate broker to TruFin .
By Arvind Bhunjun; [email protected]
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