Investing.com — Stocks Dunelm Group (LON:) fell after WA Capital Limited, a company controlled by Sir Will Adderley, the vice chairman of Dunelm, and Lady Nadine Adderley, sold a significant portion of its shares in the company.
At 5:02 a.m. (09:02 GMT), Dunelm Group shares were trading 6.3% lower at £1,157.50.
The sale, undertaken by way of an accelerated secondary placing, involved approximately 10 million ordinary shares in Dunelm.
Sir Will Adderley last reduced his stake in Dunelm in February 2021.
The sale will reduce the Adderley family’s total stake in Dunelm to 37.6% from its previous holding.
“Sir Will Adderley has undertaken that following the completion of the Offer he will not dispose of any further shares in the Company for a period of not less than 180 days, subject to customary exceptions,” WA Capital said in a statement.
Barclays acted as sole global coordinator and joint bookrunner for the transaction, alongside UBS AG in London.
Details of the offering, including the final price, are to be determined following the closing of the accelerated bookbuilding process.
