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 is a senior finance journalist and presents bulletins including the Market Outlook, Market at Midday and Market Wrap. She also interviews ASX CEOs and leading fund managers. She joined FNN in January 2017 with over six years of broadcast journalism experience including with Sky News Business, ABC 1, ABC's The Business and ABC24. She’s also worked as a TV reporter for Prime 7 and WIN News. Jessica has worked in financial planning for over six years with leading wealth managers and in real estate.