Jupiter team nets £63m in share placing
EDWARD Bonham Carter and other shareholders in Jupiter Asset Management have sold more than 25 per cent of their holding in the fund manager through a share placement, netting a total of almost £63m.
The sale of 26.9m shares – equal to 5.7 per cent of the company – came as a lock-in period on the stock expired exactly a year after the company floated on the London Stock Exchange.
Fund managers Anthony Nutt and Philip Gibbs divested the largest stakes, placing almost half of the offered shares between them, to bank £18m and £12.7m respectively.
Chief executive Bonham Carter, brother to actress Helena, sold just 555,103 shares, netting £1.3m at the offer price of £2.40 per share, but retaining a huge 14m shares – or 3.6 per cent of the company.
Shares in Jupiter closed down 2.08 per cent yesterday at 249.51p, having fallen to 238.10p earlier in the day.