The London Stock Exchange Group PLC (LSE:LSEG) has repurchased £500 million of its shares from Blackstone and Thomson Reuters (NYSE:TRI)-led consortium York Holdings through an off-market purchase.
York Holdings, which also includes Singapore’s sovereign wealth fund, also announced an off-market placing of £1.4 billion in LSEG shares to entities unaffiliated with LSEG.
It represents a major drawdown of LSEG shares held by York Holdings, from 27% 12 months ago and from 10% to 6% today.
The consortium was a previous owner of Refinitiv, which LSEG bought out in 2021 for $27 billion.
Since then, LSEG shareholders have been concerned about the effects of a ‘share overhang’, where a significant portion of a company's shares are held by shareholders planning to sell them in the future but have not yet done so.
But the market was buoyed by this latest overhand reduction, with LSEG shares rallying 2.3% to 9,248p at the time of writing.