AJ Bell slides as Invesco sells off 7.6% stake

22nd May 2020 08:12

(Sharecast News) - AJ Bell was under the cosh on Friday after fund manager Invesco sold a 7.6% stake in the company.
Invesco sold off 31m shares at 400p each, raising gross proceeds of about £123.9m.

Following completion of the placing, Invesco will hold 1.30m ordinary shares in AJ Bell, representing approximately 0.3% of the company's issued share capital.

Numis acted as sole bookrunner in connection with the placing.

At 0810 BST, AJ Bell shares were down 12% at 393.98p.