Montefiore sells bigger-than-planned stake in Me Group.
Montefiore Investment has sold 26.5 million shares in Me Group International, it was confirmed on Friday, representing 7% of the company’s issued share capital, through an accelerated bookbuild.
Me Group International
28 February 2025 10:14:40
Source: Sharecast
The shares were placed at 200p each, with Berenberg acting as the sole bookrunner.
According to regulatory announcements, the transaction, announced on 27 February, initially targeted a sale of around 5% of Me Group’s share capital, but resulted in a larger divestment.
Following completion, Montefiore would retain a 5% stake, equating to 18.9 million shares.
The firm agreed to a 45-day lock-up period, subject to certain exceptions and Berenberg’s consent.
Me Group was not involved in the placing and would not receive any proceeds.
Settlement was expected on 4 March.
At 0950 GMT, shares in Me Group International were down 9.37% at 199.39p.
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