Lexington Partners gets GBP39 million from Apax Global share sale

(Alliance News) - Lexington Partners has sold almost GBP40 million in shares in Apax Global Alpha Ltd, Jefferies International Ltd said on Thursday.

The 20.7 million shares were sold at a price of 188.00 pence each, representing a 5.9% discount to Wednesday's closing price of 199.8p. Shares in private equity and derived investments-focused firm Apax Global Alpha were trading 2.6% lower at 194.58p in London on Thursday.

Lexington received GBP38.9 million from the sale. Apax Global Alpha did not receive any proceeds, as they were existing shares.

The sale, first announced late Wednesday, was conducted via accelerated bookbuild and Jefferies acted as sole global coordinator in relation to the placing.

Following completion, Lexington continues to hold around 3.7 million shares in Apax Global Alpha, locked up for 90 days.

By Lucy Heming; lucyheming@alliancenews.com

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