Stagecoach: Falls as founding family cuts stake

YAMATO HOLDINGS

28/04/2021 08:52

** Transport co's shares Stagecoach Group  SGC.L  fall 7.2%
to 92.5p
    ** Co says non-executive director Brian Souter and his
sister, Dame Ann Gloaghave disposed of 11,568,454 ordinary
shares in co to institutional shareholders  urn:newsml:reuters.com:*:nGNE3669HZ
    ** Says shares disposed of represent 2.1% of co's issued
share capital, and reduces overall interest of Brian Souter,
Dame Ann Gloag and shares held by founding family from 27.1% to
about 25% 
    ** Reducing families' shareholdings as part of a 10-year
plan to rebalance families' investment portfolios - Brian Souter
    ** HSBC downgrades Stagecoach to "reduce" from "hold", says
concerned that bus ans rail sector could emerge from
coronavirus-led lockdowns worse as bus journeys likely to be
impacted by mopre work from home and less high street shopping
    ** HSBC also downgrades transport co Go-Ahead  GOG.L  to
"hold" from "buy over similar concerns; GOG shares down 5.17% to
 1,286p

 (Reporting by Vishwadha Chander in Bengaluru)
 ((Vishwadha.Chander@thomsonreuters.com;))