Moonpig Group PLC (LSE:MOON) slumped on Thursday morning after shareholders placed some 25 million shares in the company at a discount to Wednesday’s closing price.
At 160p, the shares were priced almost 10% under Wednesday’s closing value of 177.6p.
In response, Moonpig's share price was down 10.9% to 158.20p on Thursday morning.
Exponent Private Equity, LCP VIII Holdings, Strategic Partners, LGT Capital Partners, GoldPointPartners, K Athena Investment, Storebrand International and Aberdeen Standard Investments were among the shareholders to place the stock.
Shares sold represented around 7.3% of Moonpig’s issued share capital, according to Bloomberg.