A major Harbour Energy PLC (LSE:HBR) shareholder has cut its stake in the oil and gas producer, with Potomac View Investments, an entity managed by EIG, placing 60 million shares with institutional investors for gross proceeds of about £153 million.
The accelerated bookbuild was priced at 255p per share, with the stock sold representing around 3.8% of Harbour Energy’s issued share capital.
It is a secondary placing, and as such, the proceeds go to the selling shareholder rather than the company.
Following the settlement, Potomac View’s holding in Harbour will drop to about 3.5%, and, the seller agreed to a 90-day lock-up on further share sales.
In London, Harbour shares fell almost 9%, changing hands at 258.01p.