3rd Feb 2017 07:55
LONDON (Alliance News) - Berenberg on Friday said WebPals Enterprises LP has sold more shares than previously planned in digital marketing firm XLMedia PLC, with its chief executive also selling down his stake.
The investment bank had said late Thursday that WebPals was planning to sell 25.0 million shares, or around a 12.5% stake in XLMedia, via a placing.
But on Friday, Berenberg said WebPals had successfully sold 40.0 million shares, or a 20% stake in XLMedia, at 100.00 pence per share, making the transaction worth GBP40.0 million. XLMedia shares closed at 108.00p on Thursday.
Following the sale, WebPals will still hold around a 22.5% stake in XLMedia, or about 45.0 million shares.
Ory Weihs, the chief executive of XLMedia, sold 4.0 million shares in the placing to leave him with around 6.8 million XLMedia shares, or around a 3.4% stake in the company.
Berenberg was the sole global coordinator and bookrunner for the placing.
By Sam Unsted; [email protected]; @SamUAtAlliance
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