LSEG investors raise $3.4 billion from share sales
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2023-09-07 14:45
LONDON (Reuters) -Investors in London Stock Exchange Group including Blackstone and Thomson Reuters, have raised around 2.75 billion pounds ($3.44

LONDON (Reuters) -Investors in London Stock Exchange Group including Blackstone and Thomson Reuters, have raised around 2.75 billion pounds ($3.44 billion) from the sales of shares in the bourse operator, bookrunners said in a statement on Thursday.

The consortium, which also includes Canada's CPPIB and Singapore's GIC, sold around 25.5 million shares at a price of 7,950 pence per voting share to institutional investors, raising around 2 billion pounds.

The price achieved reflects a 3.8% discount to LSEG's closing share price of 8,264 pence on Wednesday.

LSEG said in a separate statement on Thursday that it had also agreed to pay the consortium nearly 750 million pounds to buy back more than 9 million shares directly at a price of 7,894 pence per share, representing a discount of 4.5%.

The company had earlier indicated its intention to pursue such a buyback in March this year.

A separate offer to retail investors was also agreed, the statement said.

Blackstone and Thomson Reuters, the parent of Reuters News, have been trimming their stake in LSEG since becoming shareholders in the company following the sale of financial data provider Refinitiv to the British bourse operator in 2021, in a deal valued at $27 billion.

(Reporting by Iain Withers, editing by Sinead Cruise)

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