LONDON (Alliance News) - Global Ports Holding PLC said Friday that shareholder Global Yatirim Holding AS sold 4.0 million shares in the company, or 6.4% of its shares.
The sale was made at 435 pence each. Shares in the cruise and commercial port operator were trading down 10% at 445.00 pence each on Friday.
Late Thursday, Global Ports had said that about 3.0% of its share capital, would be sold in a secondary placing, from which it would not receive any proceeds.
Global Yatirim Holding AS - an Instanbul-listed brokerage firm - owns 66% of Global Ports through its wholly-owned subsidiary Global Ports Holding BV. On Thursday, it proposed to sell a minimum of 2 million shares at a price of 435 pence each. It decided however, to increase the number to 4.0 million after additional investor demand, Global Ports said Friday.
After the sale, Global Yatirim retains a 59.3% stake in Global Ports.
Global Ports said it also understood that, Centricus Partners LP, which holds a 31.25% stake in Global Yatirim, and its affiliates have acquired in aggregate 2.3% of Global Ports after participating in the placing.
The placing was managed by Barclays Bank PLC, Citigroup Global Markets Ltd and Shore Capital Ltd, who acted as joint global coordinators and joint bookrunners.
Global Ports (GPH)