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Rolls-Royce Stock Down As ValueAct Reportedly Sells Entire Stake

(RTTNews) - ValueAct, a California-based activist investor, has sold its full stake in Rolls-Royce Holdings plc (RYCEF.PK, RR.L, RYCEY.PK), the Financial Times reported.

The activist was the UK aero engine maker's biggest shareholder. The decision comes as Rolls-Royce plans raising 1.5 billion pounds to 2 billion pounds from shareholders to help restore its balance sheet.

As per the report, ValueAct began reducing its stake after the departure of its chief operating officer Brad Singer from Rolls-Royce's board in December.

In London, Rolls-Royce shares were trading at 243.50 pence, down 3.79 percent.
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