Energean tumbles as CEO sells 5m shares
Energean
1,174.00p
16:45 01/02/23
0.77%
9.00p
Energean shares tumbled on Friday after top shareholder Growthy Holdings - which is owned by the group’s chief executive Mathios Rigas - sold 5m shares.
FTSE 250
19,898.54
16:45 01/02/23
n/a
n/a
FTSE 350
4,292.75
16:30 01/02/23
n/a
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FTSE All-Share
4,252.85
16:58 01/02/23
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Oil & Gas Producers
8,305.50
16:30 01/02/23
0.03%
2.67
The shares, which represent a stake of around 2.8%, were sold through an accelerated bookbuild to institutional investors at £11.06 each.
The company said: "Mr Rigas remains fully committed to the business and is confident in the outlook for Energean."
Once the sale completes, Rigas will remain a significant shareholder, owning around 15m shares, or a stake of approximately 8.5%.
At 0850 BST, the shares were down 8.5% at 1,073p.