Comet: Slumps after major shareholder sells 600,000 shares
23/03/2021 08:29
** Shares in Comet COTNE.S fall 7.9% after Bloomberg
reports major shareholder Tringle Investment sold 600,000 shares
in the Switzerland-based technology holding
** Tringle placed 7.7% of all Comet shares in accelerated
bookbuilding at a 10% discount, Bloomberg says
** According to Vontobel, the placement is an anticipated
consequence of the sale of Comet's eBeam lamps business to Tetra
Pak
** At the same time, Tringle's move does not significantly
dilute Comet stock, Vontobel says as it confirms its "buy"
rating on the Swiss company
** Comet is set for its worst day in almost three years and
hits the bottom of Switzerland's mid cap index .SMIM
((zuzanna.szymanska@tr.com))