LONDON, Sept 4 Borse Dubai has launched an
accelerated sale of 8.5 million shares in the London Stock
Exchange, representing around 3.1 percent of the
company's issued capital, two sources familiar with the matter
said on Thursday.
The latest price guidance on the shares is 20.20 pounds
($33) each, one of the sources said, valuing the stake at 171.7
million pounds and representing a 3 percent discount to the
closing price of 20.85 pounds.
The deal is well covered with books closing at 1800 GMT, one
of the sources said.
The proceeds from the sale will be used to fully subscribe
to the LSE's upcoming rights issue. Bourse Dubai will remain the
LSE's largest shareholder with a 17.4 pct stake.
Nomura is sole bookrunner on the transaction.
(1 US dollar = 0.6117 British pound)
(Reporting by Freya Berry; editing by Keiron Henderson)