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AJ Bell dips as directors trouser £25.7mln from discounted placing

Those selling shares included AJ Bell’s chairman, Leslie Platts, and its chief financial officer, Michael Summersgill

AJ Bell - AJ Bell dips as directors raise £25.7mln in discounted placing

AJ Bell PLC (LON:AJB) shares dipped slightly on Wednesday after directors at the investment manager pocketed £25.7mln in a slightly discounted placing to institutional investors.

The 6.4mln shares were placed at a price of 400p each, a discount of 1.2% to the company’s 405p close price on Tuesday and represent around 1.6% of its share capital.

READ: AJ Bell profits and dividend up in line with forecasts

Those selling shares included AJ Bell’s chairman, Leslie Platts, and its chief financial officer, Michael Summersgill.

In early trading on Wednesday, the shares were 1% lower at 401p.

Quick facts: AJ Bell PLC

Price: 426 GBX

LSE:AJB
Market: LSE
Market Cap: £1.75 billion
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