BOUTIQUE investment bank Greenhill said some of its officials would sell 3m common shares to its underwriter Goldman Sachs.
Greenhill said it would not get any proceeds from the share sale. The selling stock holders are certain managing directors and senior advisers of Greenhill, the company said.
Last month, the bank reported first-quarter profit way below analysts’ forecasts, hurt by lower financial advisory fees.
Shares of the company fell $2.22 to $86.64 in trading after the bell.