(Alliance News) - Private equity investment company EPE Special Opportunities Ltd on Monday said its wholly owned subsidiary EPIC Investments LLP will sell GBP15.0 million worth of shares in LED-lighting manufacturer Luceco PLC.
The Jersey-based investor said that EPIC Investments has sold 4.5 million Luceco shares. This represents 11% of EPE Special Opportunities' stake in Luceco. The company plans to use the GBP15.0 million raised by the sale to make new investments.
Luceco was trading 2.0% higher in London on Monday at 355.00 pence each.
In March, EPE Special Opportunities said its growth for the year ending January 31 was "driven primarily" by positive trading at investee Luceco. In the same month, Shropshire-based Luceco's pretax profit almost doubled, rising 97% to GBP33.6 million in 2020 from GBP17.1 million in 2019.
EPE Special Opportunities said its net asset value sits at 519.48 pence per ordinary share as of 31 May, 2021.
EPE Special Opportunities shares were trading up 8.4% at 375.00 pence each in London on Monday mid-morning.
By Scarlett Butler; scarlettbutler@alliancenews.com
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