Lloyd's insurer Wellington Underwriting announced today it had sold 1.46 million shares in Aspen Insurance...
Lloyd's insurer Wellington Underwriting announced today it has sold 1.46 million shares in Aspen Insurance for $25 per share, netting £18.7m.
The company announced on 23 March that it would sell part of its shareholding in Aspen in the underwritten second offering announced by Aspen on 8 March.
Wellington still holds 9.8 million Aspen shares, as well as options to purchase a further 3.8 million shares at a later date. This equates to 14.1% of Aspen's total issued share capital.
It is understood that Wellington will continue to release its shareholding in Aspen over the coming year in a bid to realise capital and raise the company's share price.
Aspen's total issued share capital was 69.3 million shares. As of 1 March there were an additional 10.4 million outstanding options.
