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Hargreaves Lansdown slides after share placing
30th Apr 2020 10:44
(Sharecast News) - Hargreaves Lansdown was under pressure on Thursday after around 6.05m shares in the investment platform were placed at 1,550p.
According to traders, Guernsey-based company PHL Limited, which is controlled by co-founder Stephen Lansdown, sold around ?100m worth of shares in the company overnight.
Barclays was said to have acted as the sole bookrunner in connection with the placing.
The placing price represents a discount of around 6% to the closing share price on Wednesday.
At 1050 BST, the shares were down 5.7% at 1,554.50p.
According to traders, Guernsey-based company PHL Limited, which is controlled by co-founder Stephen Lansdown, sold around ?100m worth of shares in the company overnight.
Barclays was said to have acted as the sole bookrunner in connection with the placing.
The placing price represents a discount of around 6% to the closing share price on Wednesday.
At 1050 BST, the shares were down 5.7% at 1,554.50p.