IG Group slumps after TCMI sells 15.5m shares
IG Group slumped on Friday after shareholder TCMI sold 15.5m shares in the online trading platform.
The shares were placed 780p each, which is a 7.5% discount to the closing share price on Thursday.
According to Bloomberg, Barclays and Jefferies were the bookrunners.
At 0900 GMT, IG shares were down 6.6% at 790p.
TCMI received shares in IG when the London-listed group bought US online brokerage and investor education platform Tastytrade last year in a $1bn deal. TCMI was one of Tastytrade’s two largest investors.
On Thursday, IG shares rallied after it hailed a "record" first-half performance across all of its businesses.