Belvoir Group PLC (LON:BLV) has said the accelerated bookbuild for the placing of to 2mln ordinary shares to institutional investors by its former chairman has now closed, with the shares sold at 150p each.
The stock is being sold by Mike Goddard, Belvoir's founder as well as former chairman, and represents approximately 5.7% of the property franchise's issued share capital.
Belvoir shares were trading at 155p in midday trading on Friday, down 4.62% on Thursday's close.
Following the share sale, Goddard will be left with 203,683 Belvoir ordinary shares, representing 0.6% of Belvoir's issued share capital, and will not be subject to any lock-up arrangements.
-- Adds details on bookbuild closure --