Wigmore Street Investments No. 3 Limited, the second largest shareholder of British-based Ferrexpo, during a secondary public offering (SPO) of part of its stake in the mining company has sold 10.7% of the securities, or 63 million shares.
According to a report by the issuer on the website of the London Stock Exchange (LSE), the securities were placed at GBP1.1 per share ($1.33).
Accordingly, the total amount of funds raised amounted to GBP69 million ($83.9 million).
The complete closing of the transaction is expected by November 1, 2016.
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As a result of the transaction, Wigmore will hold about 13.2% in Ferrexpo. Wigmore undertook during the next 90 days not to sell or transfer the shares it holds.
The SPO manager was J.P. Morgan Cazenove global investment bank.