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Novo Holdings AS, a vehicle for the Novo Nordisk Foundation, sold its entire stake in Convatec Group PLC, raising £351 million, placing agent Goldman Sachs International said early Tuesday. Denmark-based Novo Holdings after the London market close on Monday said it will sell around 155 million shares in London-based medical products and technologies provider Convatec via a placing to institutional investors run by Goldman Sachs and Morgan Stanley & Co International as joint global coordinators. Goldman Sachs said the shares were sold for 227 pence each. Convatec shares were trading at 232.00p early Tuesday in London, down 3.0%. The share sale represents around 7.8% of Convatec’s equity, and Novo Holdings no longer has any Convatec shares. Novo Holdings had already monetised all previously held shares in Convatec through derivatives transactions, which will settle alongside the offering, according to Monday’s statement, meaning the foundation will fully exit its investment in the company. Novo Holdings initially bought an around 20% stake in Convatec in 2017. Novo Holdings, is a vehicle for the Novo Nordisk Foundation which is the controlling shareholder of Danish pharmaceutical firm Novo Nordisk AS. Copyright 2025 Alliance News Ltd. All Rights Reserved.
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