Trustpilot tanks as Advent Global offloads 21.6m shares in placing

(Sharecast News) - Trustpilot tanked on Tuesday after Advent Global Opportunities sold just over 21.59m shares in the company in a placing, raising about £46m. The shares were placed at 214p each, with Deutsche Numis and JP Morgan acting as joint bookrunners in connection with the placing.

Trustpilot will not receive any proceeds from the placing.

Upon completion of the transaction, Advent Global will continue to hold a small residual stake of approximately 250,000 shares through a separate fund, Deutsche Bank said in a statement.

At 0815 GMT, the shares were down 10.2% at 211.80p.

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