19th May 2015 16:51
LONDON (Alliance News) - Invesco Asset Management Ltd Tuesday said it intends to sell 13 million shares, or a 6.1% stake in Allied Minds PLC.
The company said it would sell the shares on behalf of its managed clients through an accelerated bookbuild to institutional investors, with Jefferies International Ltd and Numis Securities Ltd acting as joint bookrunners. It said Allied Minds will not receive any proceeds from the placing.
Invesco said it intends to remain a significant, long term shareholder of the company following the placing, and said the sale is subject to demand, price and prevailing market conditions. The final number of shares to be placed will be agreed at the close of the bookbuild process, it said.
Allied Mind shares closed down 0.3% to 634.60 pence per share on Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
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