LONDON (ShareCast) - Around 25m shares in software house Micro Focus changed hands on Monday as a result of a secondary placing organised by UBS.
The placing took place after an agreement between UBS and funds managed by private equity group Golden Gate.
The shares were placed at 260p and raised gross proceeds of £65m.
The shares sold represent about 12.5% of the total issued ordinary share capital of Micro Focus.
Micros Focus’s shares fell sharply on the news on a day when the market as a whole surged ahead following the week-end bail out of US mortgage giants Freddie Mac and Fannie Mae.
The shares had hit a six-month high earlier this month.