(Correcting headline to say shareholder BP Inv2 Newco intends to sell shares in the company via placing.)
Ashtead Technology Holdings PLC - Aberdeenshire-based subsea equipment rental firm - BP Inv2 Newco Ltd, a company controlled by Buckthorn Partners LLP and the Arab Petroleum Investments Corp will sell around 10.0 million shares, reflecting a 13% stake in the company via a placing.
BP Inv2 currently holds 22.3 million shares in Ashtead Tech, reflecting a 28% interest.
Numis is acting as sole bookrunner for the placing, and Ashtead Technology will not receive any proceeds from the transaction.
Current stock price: 230.00 pence, up 3.4% on Monday
12-month change: up 42% since November 24
By Dayo Laniyan; dayolaniyan@alliancenews.com
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