|Bid||0.00 x 0|
|Ask||0.00 x 0|
|Day's range||58.60 - 63.90|
|52-week range||53.50 - 125.60|
|Beta (3Y monthly)||1.42|
|PE ratio (TTM)||N/A|
|Earnings date||10 Sep 2019|
|Forward dividend & yield||N/A (N/A)|
|1y target est||141.67|
Embattled fund manager Neil Woodford is set to sell his entire stake in British intellectual property company IP Group in an accelerated book build, the bookrunner said on Tuesday. Woodford's flagship equity income fund was suspended in June after a rash of redemptions to give him time to sell less liquid assets and position to pay back any investors who seek to leave when it reopens, expected in December. Currently the second-biggest investor in IP Group with a 13.4% stake, Refinitiv data showed, Woodford plans to sell the 142 million shares to institutional investors, bookrunner Bank of America Merrill Lynch said.
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Neil Woodford has sold 97 million pounds ($123 million) of shares over the past 10 days to boost liquidity in his suspended equity income fund, a Woodford spokesman said on Thursday. Market participants have been expecting a wave of forced selling by Woodford, with some hedge funds taking out short positions against his investments. "Since suspension, Woodford has sold 97.1 million pounds of stock as he continues to reposition the Woodford Equity Income Fund portfolio," a Woodford spokesman said by email.
Britain's top stock index rose on Friday after a tumultuous week, supported by a rally in oil stocks after OPEC and Russia agreed to cut output, but investors also fretted about next Tuesday's key parliamentary vote on Brexit. The FTSE 100 (.FTSE) rebounded from Thursday's plunge to gain 1.1 percent, but put in its worst weekly performance in two months as jitters over Britain's divorce from the European Union, the U.S.-China trade war and worries about global growth sapped confidence in the UK market. The British parliament is due to vote next Tuesday on Prime Minister Theresa May's Brexit deal amid expectations that it will be rejected, prolonging the uncertainty over Britain's future relations with its biggest trading partner.