Party Time at Benfield After Pounds 39m Share Sale ; Market Report
Evening Standard - London › June 20, 2006
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Summary
THE champagne corks were popping at the Bishopsgate offices of reinsurance broker Benfield today as directors and employees enjoyed a windfall by cashing in their chips.
Broker Merrill Lynch has placed a parcel of 11.48 million shares, worth an estimated Pounds 39 million, at 340p with various institutions following an accelerated book-building exercise. The number of shares owned by directors and their families totalled 1.95 million.See the full content of this document
Extract
Party Time at Benfield After Pounds 39m Share Sale ; Market Report
Benfield shares dipped on the news, touching 340p, before rallying to trade 11/2p cheaper at 3423/4p.
The shares belonged to directors and employees of Benfiel...See the full content of this document
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