Shares represent 12.8 percent of Rank's entire issued share capital
In a fast-moving initiative today GuoLine Overseas Limited, a subsidiary of Hong Leong Company (Malaysia) Berhad, announced that it has sold 50 million ordinary shares (about 13 percent of its holding) in The Rank Group plc to institutional investors.
The deal represents approximately 12.8 percent of Rank's entire issued share capital, and leaves Hong Leong with 56.1 percent of Rank stock.
The shares were sold at a price of 185 pence per share, raising gross proceeds of GBP 92.5 million, Hong Leong revealed.
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