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abrdn Result of Secondary Placing posted on Company News.

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idpickering
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abrdn Result of Secondary Placing posted on Company News.

#476760

Postby idpickering » January 28th, 2022, 7:27 am

Here; viewtopic.php?p=476758#p476758

I know some HYPers hold these. There was a mention in the item, which might imply a special dividend maybe?

abrdn announces that it has sold an aggregate of 39,981,442 ordinary shares (the "Placing Shares") of its shareholding in Phoenix Group Holdings plc ("Phoenix"), representing approximately 4% of Phoenix's issued share capital, to institutional investors, at a price of 660 pence per share (the "Placing"), raising aggregate gross sale proceeds of approximately £264 million.

Following settlement of the Placing, which is expected to take place on 1 February 2022, abrdn's holding will represent approximately 10.4% of Phoenix's issued share capital and abrdn will continue to appoint a director to Phoenix's Board.

abrdn intends to return the net proceeds of the Placing to shareholders, with the method and timing of the return to be announced as soon as practicable after the Company's results on 1 March.


Ian.

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