Pelham Investment sells ~12% stake in Hochschild Mining Plc (LON: HOC)

Hochschild Mining Plc (LON: HOC) has reported about placing of shares where Pelham Investment Corporation sold a total 61,665,067 ordinary shares.

• The number of shares amounts to around 12 per cent of the company’s shares, and Pelham raised approximately £123 million of gross proceeds by selling the shares at 200 pence per share.
• The Placing of shares was made to institutional investors through an accelerated bookbuild, and the process was carried out by J.P. Morgan Securities plc.
• The stocks of the HOC, on 3 December 2020, traded lower by 14.95% from its previous closing, hovering at around GBX 201.40 at 09:46 AM GMT+1.