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Rothermere Continuation to sell 2.8 mln shares in Daily Mail and General Trust

Reuters - UK Focus

May 21 (Reuters) - Rothermere Continuation Limited will sell 2.8 million existing shares in Daily Mail and General Trust Plc via an accelerated bookbuild, the bookrunner on the deal said on Thursday.

UBS (NYSEArca: FBGX - news) , which is acting as the sole bookrunner on the deal, has priced the placing at 9.50 pounds, valuing the offering at 26.6 million pounds.

Rothermere Continuation has agreed to a 90-day lock-up period following the close of the transaction, UBS said. (Reporting by Ankush Sharma in Bengaluru; Editing by Bernard Orr)