BarCap Placing 30M InterContinental Hotels Shares - Traders

27th Jul 2010 08:40

By Michele Maatouk Of DOW JONES NEWSWIRES LONDON (Dow Jones)--Barclays Capital began placing 30 million shares in InterContinental Hotels Group (IHG.LN) Tuesday, according to several London-based traders. Traders said the placing is being conducted at 1100p to 1150p a share. Barclays Capital was not immediately available to comment. At 0735 GMT, InterContinental shares were down 6% at 1127 pence, leading the blue-chip decliners in London. The shares were underperforming the FTSE 100, which was 0.5% higher at 5378.29. -Michele Maatouk, Dow Jones Newswires; +44-20-7842-9447; [email protected] (END) Dow Jones Newswires July 27, 2010 03:40 ET (07:40 GMT)