Baltic Classifieds Group PLC - online classified ads portal provider in Lithuania, Estonia and Latvia - Antler EquityCo Sarl, controlled by funds advised by Apax Partners LLP, sells 21.5 million shares in Baltic Classifieds at 220 pence each. Placing raised gross proceeds of GBP47.3 million, with shares representing approximately 4.4% of Baltic's issued ordinary share capital. Following settlement, Antler will continue to hold an approximate 26.6% stake in Baltic. Baltic is not a party to the placing and will receive no proceeds.
Placing was upsized by over 50% from its original size of around 13 million shares, as announced on Tuesday. Antler will not sell any more Baltic Classifieds shares for 90 days following completion, subject to certain exceptions and waiver by the placing's global coordinator BofA Securities Europe SA.
Current stock price: 239.00 pence, up 0.2% on Wednesday morning
12-month change: up 51%
By Emma Curzon, Alliance News reporter
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Baltic Classifieds Group (BCG)