GB Group slides after Audax Management sells 5m shares in placing
GB Group
272.40p
16:45 28/03/24
1.64%
4.40p
Identity and fraud software specialist GB Group slid on Thursday after Audax Management sold 5m shares in the company in a placing.
FTSE AIM 100
3,604.12
16:44 28/03/24
n/a
n/a
FTSE AIM 50
3,992.86
16:44 28/03/24
n/a
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FTSE AIM All-Share
743.26
16:50 28/03/24
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Software & Computer Services
2,487.67
17:14 28/03/24
0.11%
2.68
According to Bloomberg, AG Acuant Holdings - an entity affiliated with Audax Management - sold the shares to institutional investors at 400p each, raising gross proceeds of around £20m.
The placing price represents a 9.7% discount to the closing share price on Wednesday.
At 0830 BST, GB Group shares were down 7.4% at 410.20p.