GE Pension Trust sells shares in London and Stamford for £74m

8th Dec 2011 13:23

General Electric Pension Trust has completed the sale of its ordinary shares in London & Stamford Property. The firm said that due to high demand for the shares, it was decided to increase the number of shares to be sold to 73,984,060, representing the entirety of the London & Stamford shares held by General Electric Pension Trust, equal to 13.6% of the issued share capital of London & Stamford. The shares were sold at a price of 100p per ordinary share, raising gross proceeds of around £74m.London and Stamford's shares fell 7.12% to 107p by 13:29. NR