MYOB shares sold down by Bain Capital

Company News

by Jessica Amir

The global investment firm, Bain Capital  has sold down about 97.2 million shares in software provider, MYOB (ASX:MYO).

The sell down takes Bain Capita’s holding in MYOB to 23.1 per cent of the company.

The Boston based firm still has the right to nominate two directors to the board of MYOB, as it continues to hold at least 20 per cent of its shares.

The 97.2 million shares were sold down today via an underwritten block trade through JPMorgan.

Shares in MYOB (ASX:ASX). are trading 0.55 per cent lower to $3.60
 

Jessica Amir

Finance News Network
Jessica joined FNN in January 2017 with a passion for equities and funds management. As Head of News, she has been a broadcast journalist for over seven years, specialising in finance. She has been a journalist with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for regional Channel 7 and 9. She also previously worked as a financial planner and real estate agent.