Baltic Classifieds Group PLC - online classified ads portal provider in Lithuania, Estonia and Latvia - Antler EquityCo Sarl, which is controlled by funds advised by Apax Partners, intends to sell 30 million shares by way of an accelerated bookbuild to institutional investors. The placing represents around 6% of company’s share capital. Share sale worth around £83 million. Antler currently owns just over 63 million shares, a 13% interest in Baltic Classifieds. In addition, company intends to buy back 4.2 million shares alongside the placing. Worth around £11.6 million. BofA Securities Europe SA is acting as sole global coordinator in connection with the placing. Antler has undertaken that it will not dispose of any further shares in Baltic Classified for a period of 90 days following completion of the placing. Company says it will not receive any proceeds from the placing.

In May, the Apax fund sold 27 million Baltic Classifieds shares at 223 pence per share, worth £60.2 million in total. The Apax funds had sold 21.5 million Baltic Classified shares in early March and 25 million back in January.

Current stock price: 277.00 pence

12-month change: up 37%

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