Distribution Finance Capital Holdings PLC - Manchester-based bank providing personal savings products and working capital to dealers and manufacturers - Arrowgrass Master Fund Ltd plans to sell up to 70.6 million shares at 40 pence each, worth GBP28.3 million, "in response to investor demand". The shares, representing a 39.4% stake in Distribution Finance Capital, will be placed by Liberum Capital Ltd via an accelerated bookbuild. The company will receive none of the proceeds, as the sale is of existing shares.
Current stock price: 55.00p
Year-to-date change: down 11%
By Tom Waite; thomaslwaite@alliancenews.com
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Distrib. Fin. (DFCH)