AJ Bell PLC (LON:AJB) shares dipped slightly on Wednesday after directors at the investment manager pocketed £25.7mln in a slightly discounted placing to institutional investors.
The 6.4mln shares were placed at a price of 400p each, a discount of 1.2% to the company’s 405p close price on Tuesday and represent around 1.6% of its share capital.
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Those selling shares included AJ Bell’s chairman, Leslie Platts, and its chief financial officer, Michael Summersgill.
In early trading on Wednesday, the shares were 1% lower at 401p.