Aldermore Group PLC (LON:ALD) saw its shares drop 7% this morning as private equity firm AnaCap Financial Partners completed a placing of around a 15% stake in the Challenger bank at a price of 220p a share.
In a statement, AnaCap said it had sold an aggregate of 51.7 mln ordinary shares in Aldermore, raising gross sale proceeds of approximately £113.7mln.
Following the placing, the AnaCap Funds will be interested in approximately 25% of Aldermore’s issued ordinary share capital.
AnaCap announced plans to conduct the accelerated book-build placing after the market close yesterday, with Deutsche Bank and RBC Europe Ltd acting as joint bookrunners.
Aldermore will not receive any proceeds from the placing.
In early morning trading, Aldemore shares shed 7.3%, or 17.25p at 222.6p.