Investors have quickly snapped up the 2.2m shares in Belvoir released by founder and former chairman Mike Goddard.
The release of the shares was announced at 4.45pm on Monday afternoon, and the close of the successful book-build at noon yesterday.
Altogether 2,194,451 shares were placed at 105p each. They represent 6.3% of the issued share price of the company.
The buyers included Michael Stoop, Belvoir’s non-executive chairman, and Paul George, non-executive director.
They showed their faith in the company by buying 10,000 shares each.
They now each own 20,000 shares, or approximately 0.06% each of the issued share capital.
Goddard, who had held a 12.6% stake, now holds 6.3%.
Yesterday shares in Belvoir dipped around 4.5%, finishing at 107.5p – nevertheless above what the new investors paid to get a stake in the UK’s largest property franchising company.
……and the take-over of TPFG begins
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Casually dropping 10,000 quid on some shares as a show of faith.
There’s a party, boys, but we’re not invited.
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