Flow Traders' free float has increased to approximately 71.3 per cent as major shareholders Summit Partners, Avalon and Javak have sold approximately 5.9 million shares to institutional investors in an accelerated bookbuilding process. No shares were issued or sold by the company.
The shares placed represent approximately 12.65 per cent of Flow Traders' issued share capital. This will increase Flow Traders' free float to approximately 71.3 per cent.
Immediately upon completion of the transaction, Summit Partners will no longer hold any shares in the capital of Flow Traders, and Javak and Avalon will each hold approximately 12.3 per cent of Flow Traders' issued share capital.