Megaport sell down 3.3 million shares

Company News

by Rachael Jones

Interconnection services company Megaport (ASX:MP1) today announced the sell down of 3,300,000 shares in the Company held by Megaport Chairman, Mr Bevan Slattery.

The sale of 3,300,000 shares, that's equivalent to 2.46 per cent of the Company’s issued capital, was underwritten by UBS AG, Australia Branch at a price of $5.11 and distributed to institutional investors.

Following the sell down, Mr Slattery will continue to hold 13.52 per cent of the Company’s issued capital.

Mr Slattery will be using the proceeds from the sale to fund early stage development of two new technology ventures.

Shares in Megaport (ASX:MP1)
 

Rachael Jones

Finance News Network
Rachael comes to FNN after working for Fairfax Media covering international breaking news, including the global economy and politics. She joined FNN in February 2018. She has reported on Australia’s finance news for various organisations since 2000 and has also interviewed a number of key business players, including Bill Gates. Rachael has also worked across a number of countries, including the UK and the US.