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Syncona shares fall as Wellcome Trust says will sell a small percentage of its shareholding in firm

The charity said the placing is expected to include 45mln shares, or a 6.8% stake in Syncona, and will reduce its stake in the FTSE 250-listed firm to 30% from 36.8%
Shares down
It said Goldman Sachs International has been appointed to act as sole global coordinator and bookrunner in connection with the placing

Syncona Limited (LON:SYNC) shares fell on Wednesday after The Wellcome Trust said it will sell a small percentage of its shareholding in the life sciences investor.

Wellcome Trust said the placing is expected to include 45mln shares, or a 6.8% stake in Syncona, and will reduce its stake in the FTSE 250-listed firm to 30% from 36.8%.

Wellcome to continue to be a supportive, long-term shareholder​

In a statement, the charity said: “Having co-founded Syncona in 2012, and following its listing in 2016, the Wellcome Trust has been delighted by the success that the company has delivered.”

It added: "Wellcome Trust will continue to be a supportive, long term shareholder and has undertaken not to sell further ordinary shares for a period of 180 days following completion of the placing without the prior written consent of the bookrunner."

It said Goldman Sachs International has been appointed to act as sole global coordinator and bookrunner in connection with the placing, with Numis Securities acting as co-lead manager.

Details of the placing price per share and number of ordinary shares being sold will be confirmed in due course, the Trust added.

In lunchtime trading, Syncona shares were 2.3% lower at 251p.

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