Bestseller Sells 2 Million ASOS Shares, Plans To Keep Stake Above 25% (ALLISS)

LONDON (Alliance News) - Numis Securities Ltd said on Thursday that Aktieselskabet af 5.5.2010, a ...

Alliance News 27 September, 2018 | 9:52AM
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LONDON (Alliance News) - Numis Securities Ltd said on Thursday that Aktieselskabet af 5.5.2010, a subsidiary of Bestseller United AS, has sold 2 million shares in ASOS.

The shares were sold at 5,685 pence each to generate proceeds of GBP112.2 million. Following the placing, which was first announced late Wednesday, Bestseller will continue to hold 22.3 million shares in ASOS, representing a 26.66% stake.

Shares in ASOS were down 5.1% at 5,684.00 pence on Thursday. Following the sale, Aktieselskabet remains the largest single shareholder in ASOS.

Numis acted as sole bookrunner and seller in connection with the placing. ASOS will not receive any proceeds from the sale.

"We have been shareholders in ASOS since 2010 and have always had the long term interests of the business at heart. As part of our active management of the Heartland investment portfolio, we have sold a small percentage of our holding. We are delighted to remain supporters of the business and the management team and have no intention to see our position fall below 25% in the long term," said Heartland Chief Executive Lise Kaae.

Heartland is Anders Holch Povlsen's private holding company which holds, among others, fashion portfolio Bestseller. Bestseller's other investments include Zalando and Stylepit.

By Lucy Heming; lucyheming@alliancenews.com

Copyright 2018 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
ASOS PLC 3,132.25 GBX -0.56

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