McCarthy & Stone slumps on placing news
McCarthy & Stone was under the cosh on Wednesday on news that private equity firm Anchorage Capital was placing 43m shares in the retirement housebuilder.
FTSE 250
19,601.98
17:09 25/04/24
n/a
n/a
FTSE 350
4,434.34
17:09 25/04/24
n/a
n/a
FTSE All-Share
4,387.94
16:49 25/04/24
n/a
n/a
Household Goods & Home Construction
12,457.72
17:09 25/04/24
-0.14%
-17.08
McCarthy & Stone
n/a
n/a
n/a
n/a
According to terms seen by Bloomberg, the shares were being placed at 145p, with Goldman Sachs as bookrunner.
Anchorage will continue to hold 66m shares.
On Tuesday, McCarthy & Stone said pre-tax profit for the 14 months to 31 October had fallen 25% to £43.4m and warned that the outturn for the first half would be lower than the previous year after a slower star to the financial year due to the general election.
At 0822 GMT, the shares were down 5.2% at 147.60p.