Rathbone Brothers raises £50m via share placing

Lindsell Train loads up on shares

Rathbone Brothers has raised £50m in gross proceeds (£49m net) via a placing of 2,840,910 ordinary shares with institutional investors at a price of 1,760p per share.

The issued shares represent around 5% of the company's issued ordinary share capital prior to the placing, and were priced at a 7.9% discount to the closing price of Rathbones' shares on 23 June 2021. When issued, the new shares will be credited as fully paid and rank pari passu with the existing ordinary shares of the company. Sustainable leaders interview: Head of Rathbone Greenbank Investments John David on moving mainstream Lindsell Train, which is a substantial shareholder in Rathbones, has committed to purchase 124,000 of the shares issued via this latest placing. Rathbones ...