Howard Investments to sell over 10m Associated British Foods shares
Britain's Howard Investments Limited plans to sell over 10 million shares in Associated British Foods PLC (ABF), the company said on Friday. The company, a wholly owned subsidiary of Wittington Investments Limited, said it has entered into an agreement to sell about 10.3 million ordinary shares - equating to around 1.4% of the issued share capital - in ABF to institutional investors through an accelerated bookbuild process, with each ordinary share priced at 2,550 pence, generating gross proceeds of about £262 million ($333 million). Following completion of the placing, the combined shareholdi...