The firm obtained the stake for £25m help in Also can 2020 as segment the UK contractor’s £100m fund elevate.
The ASGC shareholding, which turned into once supplied at a 13% low cost to the day before at present’s allotment impress of 105p, is recognized to were placed with institutional investors.
A Costain spokesperson mentioned: “We uncover that the sale by ASGC turned into once increased from their real proposal, reflecting staunch inquire of from other establishments for our shares in conjunction with existing holders increasing their positions. This recognises the continuing staunch performance of the enterprise, high volume of forward work and on-target margin enhance.”
Costain shares had been down 7% in the first few hours of purchasing and selling after the announcement.
