Private equity company, Inflexion, is selling more shares in online travel firm, On The Beach.
Today it has placed 11.5m ordinary shares, priced at 365p share, which would raise £42m.
Following completion of the sale, Inflexion would be left with 3.8 shares, representing a 2.9% stake in the company.
It comes almost exactly 5 months after Inflexion sold 14m ordinary shares – or 9.6% of the firm, raising £33m.
Inflexion completed the secondary buy-out of the Cheadle-based company in 2013. The deal was worth £73m, effectively putting it up £2m purely through the combined placements.
The investment firm’s remaining shares will be subject to a lock-up, which ends 90 days after the completion.
