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Glenveagh to buy €10 million shares as part of Teleios stake sale

ALN

Teleios Capital Partners LLC on Thursday said Teleios Global Opportunities Master Fund Ltd intends to sell a 16.6% stake in Maynooth, Ireland based homebuilder, Glenveagh Properties PLC.

The sale of 12 million shares will be conducted by way of an accelerated bookbuilding process to institutional investors.

At Thursday’s closing Glenveagh Properties share price of €2.27 the shares will be worth €27.2 million.

Glenveagh said it intends to participate in the placing by buying shares worth around €10 million as part of the ongoing buyback programme.

J&E Davy has been appointed as sole bookrunner in connection with the placing.

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