(Sharecast News) - Apax Partners has sold 27m shares in Baltic Classifieds in a placing, according to a filing by Merrill Lynch International.
The shares, which represent a stake of around 5.5%, were sold at 223p each, raising gross proceeds of approximately £60.2m.
The placing was originally meant to be 21.5m shares but was upsized by about 25% "on the back of strong deal momentum", Merrill said.
Following settlement of the placing, which is expected to take place on 13 May, Apax Partners will continue to hold about 21.1% of BCG's ordinary shares.
BofA Securities acted as sole global coordinator in connection with the placing
BCG is not a party to the placing and will not receive any proceeds.
Baltic Classifieds Group (BCG)