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
Sign up for MoneyWeek's newsletters
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.
-
What happens if you can’t pay your tax bill, and what is "Time to Pay"?
Millions are due to file their tax return this Friday as the self-assessment deadline closes. Though the nightmare is not over until you pay the taxman what you owe - or face a penalty. But what happens if you can't afford to pay HMRC your tax bill, and what is "Time to Pay"?
By Kalpana Fitzpatrick Published
-
What does Rachel Reeves’s plan for growth mean for UK investors?
Rachel Reeves says she is going “further and faster” to kickstart the UK economy, but investors are unlikely to be persuaded
By Katie Williams Published