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Moonpig falls on hefty share sale by private equity backers

Published 25/04/2024, 10:39
Moonpig falls on hefty share sale by private equity backers

Proactive Investors - Moonpig Group PLC (LON:MOONM) slumped on Thursday morning after shareholders placed some 25 million shares in the company at a discount to Wednesday’s closing price.

At 160p, the shares were priced almost 10% under Wednesday’s closing value of 177.6p.

In response, Moonpig's share price was down 10.9% to 158.20p on Thursday morning.

Exponent Private Equity, LCP VIII Holdings, Strategic Partners, LGT Capital Partners, GoldPointPartners, K Athena Investment, Storebrand International and Aberdeen Standard Investments were among the shareholders to place the stock.

Shares sold represented around 7.3% of Moonpig’s issued share capital, according to Bloomberg.

Read more on Proactive Investors UK

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