29th Nov 2016 15:51
LONDON (Alliance News) - York Place Ltd said on Tuesday that it has sold its entire 6.1% stake in construction and civil engineering company Costain Group PLC via a share placing.
York Place, which is wholly-owned by Malaysian engineering company UEM Group Berhad, has placed 6.3 million Costain shares at 340 pence per share, raising around GBP21.5 million.
Shares in Costain were down 2.3% at 342.00p Tuesday afternoon.
The placing was conducted by means of an accelerated bookbuild with Liberum Capital Ltd as sole bookrunner.
By Adam Clark; [email protected]
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