Barry Callebaut: shares down, Jacobs Holding cuts stake
(CercleFinance.com) - Barry Callebaut shares are tumbling 7.
5% to 1,930 Swiss francs in morning trading on Tuesday, after its reference shareholder Jacobs Holding cut its stake in the company by over 10%.
The Zurich-based investment firm has sold 156,658 shares (2.85%) in a private placement to Ontario Teachers' Pension Plan and another 393,342 shares (7.17%) by way of an accelerated bookbuilding process at a price of 1,915 Swiss francs per share, it said.
After these transactions are completed, Jacobs Holding will retain about 40.1% of Barry Callebaut's share capital, although has no intention of further cutting its stake, it added.
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