EUROPE/MIDDLE EAST/AFRICA

摘要

Shareholders in TRUSTPILOT picked up £141.4m on Tuesday night in the first sell-down in the London-listed Danish online review site since its £482m float in March. The lock-up from the IPO expired in September and investors were primed through a wall-crossing exercise during the day. Books opened after the market close in London with coverage on indications, and formal coverage on an offering of 41m shares came within 20 minutes. The trade represents 10% of share capital and around 33 days' trading, according to Refinitiv data. Guidance followed after 6pm at 345p per share, a 9% discount to Tuesday's 378.6p close but more than 30% above the IPO price. Shares have been fairly volatile of late so a decent discount is not a surprise. The stock rose more than 20% in the last week of August to 460p, but fell nearly 27% in September to 336.6p. Shares had risen more than 11% in the week to Tuesday's close. The top 15 orders took 75%, including a sizable long-only anchor from the wall-crossing, and with allocations skewed to wall-crossed accounts.