York Place Limited has announced its intention to sell its entire shareholding of 6,310,850 ordinary shares in Costain Group to qualified institutional investors at 340 pence per share.
The placing shares represent 6.14% of Costain's entire issued share capital.
York Place Limited is an entity wholly owned and controlled by UEM Group Berhad.
The placing will be conducted by means of an accelerated bookbuild to institutional investors, which will be launched immediately following this announcement.
Liberum Capital Limited is acting as sole bookrunner in connection with the placing.
The final number of Placing Shares and the price at which the Placing Shares are to be placed will be agreed by Liberum and York Place Limited at the close of the bookbuild process,
At 3:03pm: (LON:COST) Costain Group PLC share price was -3.5p at 346.5p