Investing.com -- Shares of Dunelm Group (LON:DNLM) fell after WA Capital Limited, a company controlled by Sir Will Adderley, the Deputy Chair of Dunelm, and Lady Nadine Adderley, had sold a major portion of their shares in the company.
At 5:02 am (0902 GMT), Dunelm Group was trading 6.3% lower at £1,157.50.
This sale, carried out through an accelerated bookbuild secondary placing, involved about 10 million ordinary shares of Dunelm's issued share capital.
The last time Sir Will Adderley reduced his holdings in Dunelm was in February 2021.
As a result of this sale, the Adderley family’s combined ownership in Dunelm will decrease to 37.6%, from their previous holding.
“Sir Will Adderley has undertaken that, following completion of the Placing, he will not dispose of further shares in the Company for a period of at least 180 days, subject to customary exceptions,” WA Capital said in a statement.
Barclays acted as the Sole Global Co-ordinator and Joint Bookrunner for this transaction, alongside UBS AG London Branch.
The placing's specifics, including the final pricing, are set to be determined upon the closure of the accelerated bookbuilding process.