JPMorgan Chase Bank Sells GBP59.5 Million In BT Shares For ADR Holders

(Alliance News) - JPMorgan Chase Bank NA said Wednesday it has sold GBP59.5 million in BT Group ...

Alliance News 25 March, 2020 | 9:10AM
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(Alliance News) - JPMorgan Chase Bank NA said Wednesday it has sold GBP59.5 million in BT Group PLC shares through an accelerated bookbuild, on behalf of the remaining holders of BT's American Depositary Receipts.

JP Morgan completed the sale of 46.7 million shares in the FTSE 100 telecommunications firm at a final offer price of 127.5 pence per share. Any proceeds from the placing net of brokerage commission and other expenses, will be held in trust for the benefits of holders of the ADRs not surrendered for cancellation.

JPMorgan Securities PLC acted as sole bookrunner for the placing.

Shares in BT Group were up 1.2% at 134.36 pence on Wednesday in London.

By Dayo Laniyan; dayolaniyan@alliancenews.com

Copyright 2020 Alliance News Limited. All Rights Reserved.

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Securities Mentioned in Article

Security Name Price Change (%) Morningstar
Rating
BT Group PLC 119.91 GBX 3.15

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