StatPro Group PLC (LON:SOG) said it has been notified by its chief executive officer, Justin Wheatley, that he plans to sell 665,000 ordinary shares, representing approximately 1% of the company's issued share capital in a secondary placing.
The AIM-listed group said the placing shares will be offered through an accelerated bookbuild to be carried out by Panmure Gordon.
It added that the price the shares are expected to be placed at is 165p each. In late afternoon trading StatPro shares were 0.9% lower at 175.5p.
The provider of cloud-based portfolio analysis and asset pricing services for the global asset management industry said certain directors of the company intend to purchase shares in the placing.
Wheatley currently holds around 7.48mln ordinary shares in StatPro, representing approximately 11.4% of the company's issued share capital.
In addition to the above interests, the CEO has an interest in 264,000 ordinary shares in family trusts, being a trustee and potential beneficiary of the trusts.