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Alfa Financial Software Holdings PLC’s majority owner plans to trim its stake in the company, according to an announcement on Thursday.
CHP Software & Consulting Holdings Ltd will sell 14.5 million shares in the London-based provider of software services to the asset and automotive finance industry. It will sell the shares at 173 pence, £25 million in total.
Alfa Financial shares fell 3.4% to 170.00p each in London on Thursday.
The shares being sold represent a 4.9% chunk of Alfa’s issued share capital.
CHP, controlled by Alfa’s own Executive Chair Andrew Page, will own 161.5 million shares in the London-listing following the transaction, just under a 55% stake. Alfa’s Chief Executive Officer Andrew Denton is a minority shareholder in CHP.
‘The sale is to satisfy specific market demand from a single institutional shareholder. Alfa is not party to the sale and will not receive any proceeds from the sale,’ according to the statement.
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