1st Dec 2015 18:20
LONDON (Alliance News) - Moneysupermarket.com Group PLC Tuesday said its founder Simon Nixon plans to place up to 35.0 million of his shares up for sale.
The company said Nixon intends to sell between 30.0 million and 35.0 million shares, which represents a stake in Moneysupermarket.com ranging between 5.5% and 6.4%.
Once the placing is completed, Nixon will be subject to a lock-up in respect of his remaining shares in the company until Moneysupermarket.com releases its preliminary results for the year ended December 31, which is expected to be published in March 2016.
Nixon sold a chunk of his stake in the company back in May, selling 20.0 million shares at 280.0 pence per share to bring his stake down to 12.8% from 16.5%, meaning Nixon could be selling up to half of his current stake in the company through the placing.
Credit Suisse is the sole bookrunner for the placing, which has opened up with immediate effect.
Moneysupermarket.com shares closed up 0.7% to 328.30 pence per share on Tuesday.
By Joshua Warner; [email protected]; @JoshAlliance
Copyright 2015 Alliance News Limited. All Rights Reserved.
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