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