Advertisement
UK markets open in 7 hours 19 minutes

  • NIKKEI 225

    38,460.08
    +907.92 (+2.42%)
     

  • HANG SENG

    17,201.27
    +372.34 (+2.21%)
     

  • CRUDE OIL

    82.80
    -0.01 (-0.01%)
     

  • GOLD FUTURES

    2,328.20
    -10.20 (-0.44%)
     

  • DOW

    38,460.92
    -42.77 (-0.11%)
     

  • Bitcoin GBP

    51,475.83
    -1,851.13 (-3.47%)
     

  • CMC Crypto 200

    1,385.27
    -38.83 (-2.72%)
     

  • NASDAQ Composite

    15,712.75
    +16.11 (+0.10%)
     

  • UK FTSE All Share

    4,374.06
    -4.69 (-0.11%)
     
Money:

The five essential pieces of financial paperwork you must never lose

Mislaying key documents can cause real headaches, so it’s worth tracking down these most commonly-lost bits of paperwork

Polish billionaire sells Ophir stake at discount, shares fall

Reuters - UK Focus

LONDON, April 30 (Reuters) - Ophir Energy (Other OTC: OPGYF - news) 's second-largest shareholder, Polish billionaire Jan Kulczyk, has sold his 8 percent stake at a near 40 percent discount to the share's price when it went public in 2011.

Kulczyk Entities placed over 56 million shares at 140 pence per share, raising 79.3 million pounds, bookrunner JP Morgan Securities said.

The shares were priced at 220.5 pence on Ophir's stock exchange debut.

Kulczyk has been an investor in Ophir since 2005.

The large placing and the discount weighed on Ophir's shares, which were down 11.1 percent at 144 pence at 1053 GMT.

ADVERTISEMENT

"Market reaction (has been) slightly negative given the large discount at which the entire position of a founding shareholder was sold," said analysts at First Energy.

Ophir, which specialises in offshore exploration in Africa, declined to comment. (Reporting by Karolin Schaps; editing by Jason Neely)