A group of investors, including Thomson Reuters (NYSE:TRI) and Blackstone (NYSE:BX), filed to sell 25.5M voting ordinary shares of the London Stock Exchange Group (OTCPK:LDNXF) (OTCPK:LNSTY) through a placement to institutional investors.
The sale of the shares represents ~4.6% economic interest and a 5.1% interest in the company.
The share sale is part of a larger plan to monetize 43.1M shares in LSEG through placements, a directed buyback, and concurrent sale of call options. Blackstone (BX) and Thomson Reuters (TRI) had acquired the shares when the group sold the Refinitiv data and analytics business to the London Stock Exchange Group (OTCPK:LDNXF) in 2021.
The group, which also includes the Canadian Pension Plan Investment Board and an affiliate of GIC Special Inestments, said they plan to sell call options over a total of ~7.9M additional voting shares to a group of bookrunners. The call option shares represent about a 1.4% economic interest and 1.6% voting interest in LSEG, according to a filing.
LSEG (OTCPK:LDNXF) had separately notified the group, known as BCP York Holdings, of its intention to make an off-market purchase of about £750M worth of its limited-voting ordinary shares.
In Wednesday afternoon trading in New York, London Stock Exchange Group (OTCPK:LDNXF) shares were unchanged at $102.00; Thomson Reuters (TRI) stock fell 0.5%, and Blackstone (BX) was essentially flat at $108.27.
In May, Blackstone and Thomson Reuters filed to sell 33M LSEG shares for $3.4B.