AJ Bell slides as Invesco sells off 7.6% stake
AJ Bell was under the cosh on Friday after fund manager Invesco sold a 7.6% stake in the company.
Invesco sold off 31m shares at 400p each, raising gross proceeds of about £123.9m.
Following completion of the placing, Invesco will hold 1.30m ordinary shares in AJ Bell, representing approximately 0.3% of the company's issued share capital.
Numis acted as sole bookrunner in connection with the placing.
At 0810 BST, AJ Bell shares were down 12% at 393.98p.