Countrywide sell-downs start after 70% run

Two of the private equity sponsors of UK estate agency Countrywide Holdings raised £200m in an accelerated sale on Tuesday night. Strong recent company results, a 70% rise in the share price since its March IPO and optimism about the UK economy contributed to a successful trade even in the depths of the holiday season.

  • By Andrew Griffin
  • 14 Aug 2013

Despite the holiday timing, demand was still good, with strong participation from existing shareholders as well as new investors. Participation from the US was strong — as it was in the March IPO — and that helped drive dynamics despite lower volumes in Europe, said bankers.

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