Sybil Holdings Plans Sale Of Entire 12% Stake In Avast

(Alliance News) - Sybil Holdings Sarl is to sell its entire stake in Avast PLC through a placing ...

Alliance News 3 September, 2019 | 5:48PM
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(Alliance News) - Sybil Holdings Sarl is to sell its entire stake in Avast PLC through a placing to institutional investors, it announced on Tuesday.

The 120.9 million share placing - equivalent to a 12.4% stake - was reported by Jefferies International Ltd, which will carry out the accelerated bookbuild. The bookbuild will open with immediate effect.

The sale depends on price and market conditions and the price is to be agreed by Jefferies and Sybil once the bookbuild closes.

Shares in cyber security software firm Avast closed up 0.2% at 385.80 pence in London on Tuesday. At this price, the 120.9 million shares would be worth GBP466.4 million.

In March, Sybil sold 95.4 million Avast shares, worth 10% of the company, at 284 pence each, netting it GBP271 million.

By Anna Farley; annafarley@alliancenews.com

Copyright 2019 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
Avast PLC 525.00 GBX 0.96 -

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