GB Group Software

A shareholder in Chester-based digital location, identity and identity fraud prevention software specialist GB Group (GBG) has sold shares representing approximately 2 per cent of the listed business' issued share capital.

AG Acuant Holdings LP, an entity affiliated to Audax Management Company LLC, has sold 5,000,000 ordinary shares in GBG.

It has sold the ordinary shares of 2.5 pence each by way of an accelerated bookbuild to to institutional investors at a price of 400 pence per ordinary share, equating to gross proceeds of £20m.

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