AJ Bell directors raise £25.7m after selling 1.6% stake
AJ Bell was in the red on Wednesday after directors at the investment platform sold just over 6.2 million shares in the company.
AJ Bell
301.00p
16:40 19/04/24
0.33%
1.00p
Financial Services
14,075.11
17:09 19/04/24
-0.63%
-89.84
FTSE 250
19,391.30
17:09 19/04/24
n/a
n/a
FTSE 350
4,341.08
17:09 19/04/24
n/a
n/a
FTSE All-Share
4,296.41
17:08 19/04/24
n/a
n/a
The shares were sold in a placing to institutional investors at 400p each, raising gross proceeds of around £25.7m.
The 1.6% stake was sold by chief financial officer Michael Summersgill, chairman Leslie Platts and group finance director Roger Stott, among others.
At 0930 GMT, the shares were down 2.9% at 393.32p.