IP Group slumps as Invesco sells 61.9m shares
IP Group slid on Thursday after Invesco sold 61.9m shares in the company in a placing.
Financial Services
14,071.26
16:14 26/04/24
0.73%
101.90
FTSE 250
19,817.28
16:15 26/04/24
n/a
n/a
FTSE 350
4,470.86
16:15 26/04/24
n/a
n/a
FTSE All-Share
4,424.23
16:15 26/04/24
n/a
n/a
IP Group
48.65p
16:14 26/04/24
2.96%
1.40p
The shares were sold at 100.5p each, according to traders, which was the lower end of the initial guidance of between 100.5p and 103p and a discount of around 9.5% to the closing share price on Wednesday.
JPMorgan was the bookrunner.
At 1240 GMT, IP Group shares were down 8.3% at 101.80p.