Trustpilot Group PLC (LSE:TRST) shares took a hit on Tuesday after private equity group Vitruvian Partners, via its Trafalgar Acquisition vehicle, disposed of shares representing 3% of Trustpilot’s entire issued share capital.
Vitruvian this week sold another 12.5 million of shares in the Denmark-headquartered online review site through an accelerated bookbuilding process for 220p per share, to bag £27.5 million before costs.
Following the secondary placing, Vitruvian retains approximately 9.5 million of shares valued at around £20 million.
The private equity grop also sold £31 million of Trustpilot shares in March.
Trustpilot shares slid 8.5% to 215p following the announcement.