Fast Track

Majority shareholder Hong Leong reduces stake in Rank Group

18th February 2015 7:50 am GMT

Rank Group’s majority shareholder Hong Leong Company (Malaysia) Berhad has reduced its stake in the UK-listed operator by selling approximately 50m of its shares, raising gross proceeds of £92.5m.

GuoLine Overseas Limited, a subsidiary of Hong Leong, sold 50m ordinary shares in Rank to institutional investors. This represents approximately 12.8 per cent of the operator’s entire issued share capital.The shares were sold at a placing price of 185 pence per share, raising gross proceeds of [...]

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