Apax Partners sells 27m shares in Baltic Classifieds in placing
Baltic Classifieds Group
257.00p
17:15 30/05/24
1.78%
4.50p
Apax Partners has sold 27m shares in Baltic Classifieds in a placing, according to a filing by Merrill Lynch International.
FTSE 250
20,670.87
17:14 30/05/24
n/a
n/a
FTSE 350
4,539.40
17:14 30/05/24
n/a
n/a
FTSE All-Share
4,494.75
16:54 30/05/24
n/a
n/a
Software & Computer Services
2,465.27
17:14 30/05/24
1.27%
30.88
The shares, which represent a stake of around 5.5%, were sold at 223p each, raising gross proceeds of approximately £60.2m.
The placing was originally meant to be 21.5m shares but was upsized by about 25% "on the back of strong deal momentum", Merrill said.
Following settlement of the placing, which is expected to take place on 13 May, Apax Partners will continue to hold about 21.1% of BCG's ordinary shares.
BofA Securities acted as sole global coordinator in connection with the placing
BCG is not a party to the placing and will not receive any proceeds.