Beware percentage reductions15 Aug 2019 19:21
Just a quick note: over the next 3 days, we may well get tr1 notifications telling us major holders have changed their holding. Because the number of shares in issue changes tomorrow when the placing hits the market, these may not tell you, on the surface, how much someone has bought or sold.
In particular, if the sheikh appears to have gone down by 2 percentage points, check the actual number of shares held. A percentage reduction of this order may simply indicate he didn't but any more at the placing. Doubtless some would panic in that scenario and spread the word that he's reducing his stake and losing interest.
We'll find out soon enough. To prevent misunderstanding, forewarned is forearmed.