GE Pension Trust sells shares in London and Stamford for £74m
General Electric Pension Trust has completed the sale of its ordinary shares in London & Stamford Property.
General Electric Pension Trust has completed the sale of its ordinary shares in London & Stamford Property.
The firm said that due to high demand for the shares, it was decided to increase the number of shares to be sold to 73,984,060, representing the entirety of the London & Stamford shares held by General Electric Pension Trust, equal to 13.6% of the issued share capital of London & Stamford.
The shares were sold at a price of 100p per ordinary share, raising gross proceeds of around £74m.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE

Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
London and Stamford's shares fell 7.12% to 107p by 13:29.
NR
Get the latest financial news, insights and expert analysis from our award-winning MoneyWeek team, to help you understand what really matters when it comes to your finances.
MoneyWeek is written by a team of experienced and award-winning journalists, plus expert columnists. As well as daily digital news and features, MoneyWeek also publishes a weekly magazine, covering investing and personal finance. From share tips, pensions, gold to practical investment tips - we provide a round-up to help you make money and keep it.
-
RICS: homebuyers are returning after stamp duty shock
The housing market has been subdued since stamp duty thresholds dropped in April, but there are signs of a recovery
-
Reducing cash ISA limit will make lending difficult and expensive, warn providers
An open letter from the Building Societies Association has urged the chancellor to keep the cash ISA limit at £20,000. We look at whether a smaller cash ISA allowance will make it harder to get a mortgage or loan