Private equity firm Exponent sells 25m shares at a double-digit discount, causing Moonpig’s worst day of trading

  • Moonpig shares tumble after significant share sale by private equity backers
  • Private equity firm Exponent sells 25m shares at a double-digit discount
  • Shares plunge 10.9% resulting in Moonpig’s worst day of trading as a listed company
  • Sale raises £40m in proceeds and cuts Exponent’s stake in the business by about a third
  • Other investors including Abrdn, GoldPoint, LGT Capital Partners, and Strategic Value Partners join the secondary placing
  • Moonpig’s share price falls to 158.2p on Thursday morning

Moonpig experienced its worst day of trading in three years as private equity backers cashed in significant stakes at a double-digit discount. The decision sent shares plunging resulting in what became the greetings card retailer’s worst day of trading as a listed company. The group of investors, led by private equity firm Exponent, sold 25m shares in the FTSE 250 retailer at 160p apiece, more than 10% below Wednesday’s closing price of 178p. The sale cut Exponent’s stake in the business by about a third to 8.2% and will raise £40m in proceeds. Abrdn, GoldPoint, LGT Capital Partners and Strategic Value Partners joined the secondary placing, with Citigroup and Jefferies acting as joint global bookrunners. This sent Moonpig’s share price falling 10.9% to 158.2p on Thursday (25 April) morning.

Factuality Level: 8
Factuality Justification: The article provides a factual account of Moonpig’s worst day of trading due to private equity backers cashing in significant stakes at a double-digit discount. It includes details of the share sale, the impact on Moonpig’s share price, and the key investors involved. The information presented is clear, relevant, and based on reported events without including any obvious bias or opinion.
Noise Level: 3
Noise Justification: The article provides relevant information about Moonpig’s worst day of trading due to private equity backers cashing in significant stakes at a discount. It includes details about the investors involved, the number of shares sold, the impact on Moonpig’s share price, and the history of stake reduction since its listing. However, the article abruptly transitions to mention Sainsbury’s profit expectations without providing any context or relevance to the main topic, which adds noise to the overall content.
Financial Relevance: Yes
Financial Markets Impacted: Moonpig
Presence Of Extreme Event: No
Nature Of Extreme Event: No
Impact Rating Of The Extreme Event: No
Rating Justification: The article pertains to the financial performance of Moonpig, a greetings card retailer. It discusses the sale of shares by private equity backers, which resulted in a significant drop in the company’s share price. However, there is no mention of an extreme event or its impact.

Reported publicly: www.retailgazette.co.uk