Moonpig slumps as investors offload 35m shares in placing

11th Jul 2024 08:35

(Sharecast News) - Moonpig slumped on Thursday after a group of investors sold 35m shares in the company in a placing via Citi, JPMorgan and Jefferies, raising proceeds of approximately £61m.

According to terms seen by Bloomberg, Exponent Private Equity, Lexington Partners, Blackstone Group, LGT Capital Partners, GoldPoint, Kaust Investment Management Co, Storebrand International Private Equity & Patria Investments were all involved in the sale.

The sale represents around 10.2% of Moonpig's issued share capital and the sale price of 175p is a discount of 13.4% to the closing share price on Wednesday.

At 0835 BST, the shares were down 6.2% at 189.00p.

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