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 the Market Outlook, Market at Midday and Market Wrap. She also presents ASX company news and interviews CEOs. She joined FNN in January 2017 with six years of broadcast journalism experience. She worked as a journalist and producer with Sky News Business, ABC 1, ABC's The Business and ABC24. She also worked in regional Australia for Prime 7 and WIN News as a TV reporter. In her prior life she worked as a financial planner.