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LONDON (Alliance News) - Global Ports Holding PLC said Friday about 3% of its issued share capital will be sold in a secondary placing.
Global Yatirim Holding AS - an Instanbul-listed brokerage firm - owns 66% of Global Ports, through its wholly-owned subsidiary Global Ports Holding BV, and is proposing to sell a minimum of 2 million shares at a price of 435 pence each.
Shares in Global Ports closed up 4.6% Thursday at 498.00p each.
The placing is being managed by Barclays Bank PLC, Citigroup Global Markets Ltd and Shore Capital Ltd, who are acting as joint global coordinators and joint bookrunners.
The final number of placing shares will be agreed by the joint global coordinators and Global Yatirim at the close of the bookbuild. The close of the bookbuild is at the "absolute discretion" of the joint global coordinators.
Global Ports Holding is not a party to the placing and will not receive any proceeds from the placing. Global Yatirim said it will use the proceeds for "general corporate purposes".