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London Stock Exchange Group investors sell £2.7bn stake

Published 17/05/2023, 07:25
Updated 17/05/2023, 07:40
© Reuters.  London Stock Exchange Group investors sell £2.7bn stake

© Reuters. London Stock Exchange Group investors sell £2.7bn stake

Proactive Investors - London Stock Exchange Group PLC (LON:LSEG) reported that an investor consortium including US buyout firm Blackstone (NYSE:BX) and Thomson Reuters (NYSE:TRI) are selling a further 33mln shares in the data firm.

The disposal will be conducted via a placing to institutional investors and a separate offer to retail investors at a price of 8,050p per share.

The placing was upsized from 28mln million shares, as announced yesterday, and will raise around £2.7bn.

At the end of January, the lock-up arrangements governing Blackstone and Thomson Reuters' indirect shareholding in LSEG no longer applied to around 66mln shares and in March the consortium sold 28mln shares at 7,150p per share.

The two firms became LSEG shareholders when they sold financial data firm Refinitiv to the bourse operator in 2021.

The remaining 5.1mln shares are subject to a 90-day lock-up.

Barclays (LON:BARC) Bank, Citigroup (NYSE:C), JPMorgan (NYSE:JPM) and Merrill Lynch are acting as joint global coordinators and joint bookrunners in connection with the placing.

Read more on Proactive Investors UK

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