(Alliance News) - Two of Auction Technology Group PLC's largest shareholders plan to sell a block of shares through a placing to institutional investors, according to a statement from JPMorgan Securities PLC after market close in London on Wednesday.
Boston-based TA Associates, which owns 26% of ATG, and London-based ECI Partners, which owns 7.8%, will between them sell a 10% stake. The statement did not say how many shares each firm will sell. Pricing will be determined through an accelerated bookbuild coordinated by JPMorgan and Numis Securites Ltd.
ATG is a publisher and online auction operator based in London.
Shares closed up 1.2% to 1,642.00 pence in London on Wednesday.
By Ivan Edwards; ivanedwards@alliancenews.com
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Auction Technology Group (ATG)