Share Placing Lifts French Connection
Fashion retailer French Connection was in focus after Numis Securities placed the near 18% holding, which once belong to the Icelandic investment group–Baugur.
The traders said that the 16.9 million shares were placed with institutional investors at 36.5p. Relief that the over-hang had been cleared saw French Connection, which currently has a market value equal to its cash balance, which rise 13.1% to 41.75p.
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