Apax funds cut Baltic Classifieds stake to 13% with new sale

Baltic Classifieds Group PLC – online classified ads portal provider in Lithuania, Estonia and Latvia – Funds advised by Apax Partners LLP sell 40 million Baltic Classifieds shares at 231 pence per share, worth GBP92.4 million in total. The placing of shares held by Apax vehicle Antler EquityCo Sarl is conducted by BofA Securities Europe SA and is increased in size from the 36 million shares announced after the London market close on Friday. The Apax funds had sold 27 million Baltic Classified shares in early May, 21.5 million in early March, and 25 million back in January. After the sale of the 8.2% stake on Friday, the Apex funds continue to own 12.9% of Baltic Classifieds.

Current stock price: 250.00p, down 2.5% early Monday in London

12-month change: up 52%

By Tom Waite, Alliance News editor

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