LONDON (Alliance News) - Joh Berenberg Gossler & Co KG on Tuesday said that funds managed by LDC Ltd have indicated their intention to sell approximately one third of their aggregate stake in Team17 Group PLC.
The sale will be conducted via placing of up to 7.3 million shares, representing 5.5% of Team17's capital.
Following completion of the sale, LDC will retain an 11.1% stake in the video game developer, or 14.6 million shares. Team17 is not a party nor will benefit from the placing.
No further details, including the placing price, were disclosed.
Berenberg will act as sole bookrunner and placing agent in relation to the placing.
Team17 shares closed up 3.2% at 240.00 pence each.
Team17 (TM17)