IP Group slumps as Invesco sells 61.9m shares

IP Group slid on Thursday after Invesco sold 61.9m shares in the company in a placing.

The shares were sold at 100.5p each, according to traders, which was the lower end of the initial guidance of between 100.5p and 103p and a discount of around 9.5% to the closing share price on Wednesday.

JPMorgan was the bookrunner.

At 1240 GMT, IP Group shares were down 8.3% at 101.80p.