Ithaca Energy PLC (LSE:ITH) shareholders Delek and Eni UK have sold close to 50 million shares in a placing to institutional investors.
Priced at 213.75p each, the share sale raising about £106 million for the sellers.
The sold shares represent some 3% of Ithaca’s share capital - post divestment, Delek retains 50.5% and Eni holds 35.9%, both remaining holdings are subject to a 90-day lock-up.
The placing was managed by London-based stockbroker Peel Hunt.
In London, Ithaca shares were down 11.6% changing hands at 210p.